What's the average rent in Lake Elmo, MN?
Rental Market Trends in Lake Elmo, MN
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SOURCE: TRULIA DATA
Rental market highlights
As of May 2026, the average rent in Lake Elmo, MN is $1,999 per month, which is 5% higher than the national average rent of $1,910 per month.
AVERAGE RENT
$1,999
-26.0%-$701 decrease month-over-month
-36.5%-$1,151 decrease year-over-year
AVAILABLE RENTALS
12
APARTMENTS
HOUSES
TOWNHOUSES
As of May 2026, townhomes are the most affordable rental option in Lake Elmo, MN at $2,700 per month, while houses are the most expensive at $4,089 per month. Apartments average $2,708 per month, offering a mid-range alternative for renters.
Average rent by number of bedrooms
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,698 |
| 2 Bedrooms | $1,995 |
| 3 Bedrooms | $1,999 |
| 4 Bedrooms | $4,111 |
| All | $1,999 |
As of May 2026, the average rent for a 1 bedroom rental in Lake Elmo, MN is $1,698 per month, followed by $1,995 for a 2 bedroom rental, $1,999 for a 3 bedroom rental, and $4,111 for a 4 bedroom rental.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | — |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | — |
| All | $2,700 |
As of May 2026, the average rent for a 3 bedroom townhome in Lake Elmo, MN is $2,700 per month.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | $1,845 |
| 3 Bedrooms | $1,999 |
| 4 Bedrooms | — |
| All | $1,973 |
As of May 2026, the average rent for a 2 bedroom apartment in Lake Elmo, MN is $1,845 per month, followed by $1,999 for a 3 bedroom apartment.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | $1,995 |
| 3 Bedrooms | — |
| 4 Bedrooms | $4,089 |
| All | $4,089 |
As of May 2026, the average rent for a 2 bedroom house in Lake Elmo, MN is $1,995 per month, followed by $4,089 for a 4 bedroom house.
Average rent trends and rent ranges
Average rent price over time
In the past year, rent has decreased by -37% compared to the previous year, which is a $1,151 decrease.
This year (2026)
Last year (2025)
Rent distribution
59% of rentals have rent of $1,500-$2,199/month
Rental price range
The price range for rentals is $1,324 to $5,995.
