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 November 2026, the average rent in Lake Elmo, MN is $1,900 per month, which is 2% lower than the national average rent of $1,932 per month.
AVERAGE RENT
$1,900
2.7%$50 increase month-over-month
-25.5%-$650 decrease year-over-year
AVAILABLE RENTALS
20
APARTMENTS
HOUSES
TOWNHOUSES
As of November 2026, townhomes are the most affordable rental option in Lake Elmo, MN at $2,465 per month, while houses are the most expensive at $4,200 per month. Apartments average $2,508 per month, offering a mid-range alternative for renters.
Average rent by number of bedrooms
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,547 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $3,775 |
| All | $1,900 |
As of November 2026, the average rent for a 1 bedroom rental in Lake Elmo, MN is $1,547 per month, followed by $1,650 for a 2 bedroom rental, $1,900 for a 3 bedroom rental, and $3,775 for a 4 bedroom rental.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | — |
| 3 Bedrooms | $2,465 |
| 4 Bedrooms | — |
| All | $2,465 |
As of November 2026, the average rent for a 3 bedroom townhome in Lake Elmo, MN is $2,465 per month.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | $1,995 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | — |
| All | $1,850 |
As of November 2026, the average rent for a 1 bedroom apartment in Lake Elmo, MN is $1,995 per month, followed by $1,400 for a 2 bedroom apartment, and $1,850 for a 3 bedroom apartment.
| Floor plan type | Average rent |
|---|---|
| 1 Bedroom | — |
| 2 Bedrooms | — |
| 3 Bedrooms | $5,200 |
| 4 Bedrooms | $4,000 |
| All | $4,200 |
As of November 2026, the average rent for a 3 bedroom house in Lake Elmo, MN is $5,200 per month, followed by $4,000 for a 4 bedroom house.
Average rent trends and rent ranges
Average rent price over time
In the past year, rent has decreased by -34% compared to the previous year, which is a $969 decrease.
This year (2026)
Last year (2025)
Rent distribution
58% of rentals have rent of $1,500-$2,199/month
Rental price range
The price range for rentals is $1,373 to $5,200.
