Cost of Living in Lake Elmo, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
219.5
100 = national avg
+119.5 vs national average
Living Wage (1 Adult)
$96,574
per year
Living Wage (Family of 4)
$228,266
per year
Cost Index by Category
Housing261.2
Food167.3
Transportation234.5
Healthcare153.8
Utilities172.6
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Lake Elmo is 219.5, which is 119.5% above the national average. Housing costs are above the national average at an index of 261.2. A single adult needs to earn approximately $96,574 per year to cover basic expenses.