Housing in Lake Elmo, MN
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Redfin — January 2026Median Sale Price
$632,450
Median List Price
$602,450
Price Per Sq Ft
$244
Days on Market
82
Active Inventory
45
Months of Supply
7.5
Buyer's market
Zillow Home Value
$606,878
ZHVI — January 2026
Price Trends
Source: RedfinMarket Competitiveness
Source: RedfinSold Above List
16.7%
Off Market in 2 Weeks
38.9%
Sale-to-List Ratio
100.4%
Seller's market
Market Activity
Source: RedfinHomes Sold
6
New Listings
14
Pending Sales
18
Price Per Square Foot
Source: RedfinMedian Sale $/SF
$244
Median List $/SF
$231
Lake Elmo vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with 10,000 - 25,000 residents. Lake Elmo is highlighted.
Median Home Value
Median Rent
Median Price Per Sq Ft
Rent Burden
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$588,900
Median Rent
$2,204
Total Housing Units
4,747
Vacancy Rate
3.6%
Owner Occupied
92.3%
Renter Occupied
7.7%
Median Property Tax
$4,727
per year
Monthly Cost (w/ Mortgage)
$2,048
Housing Types
The current median sale price in Lake Elmo, MN is $632,450 according to Redfin data. Homes spend a median of 82 days on the market. 16.7% of homes sold above asking price. The market has 7.5 months of supply. The median price per square foot is $244. The median rent is $2,204 per month (Census ACS). About 92.3% of housing units are owner-occupied. The median year homes were built is 2002. There are 4,747 total housing units.