City Walk at Woodbury
10225 City Walk Dr,
Woodbury, MN 55129
1-3 Beds | $1,723 - $2,523
Rental Market Trends in Lake Elmo, MN
Updated July 2026
The average rent in Lake Elmo, MN is $1,718/month.
Rent in Lake Elmo is roughly equal to the national average rent of of $1,663/month.
$1,718/month
Average Rent
869 Sq Ft
Average Size
+1.4%
Change / Year
524
Available Apartments
Lake Elmo rent varies by unit size and layout:
- Studio apartments in Lake Elmo average $1,437 per month.
- One-bedroom apartments in Lake Elmo average $1,718 per month.
- Two-bedroom apartments in Lake Elmo average $2,573 per month.
- Three-bedroom apartments in Lake Elmo average $3,062 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Lake Elmo, MN?
In the past year, rent has increased by 1.4%, which averages out to $24 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Lake Elmo, MN
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
100%
Above $2,000/month
What salary do I need to live comfortably in Lake Elmo, MN?
Because the average rent in Lake Elmo is $1,718, you’ll want to make about $5,726 per month or $68,712 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Lake Elmo, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Lake Elmo, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Lake Elmo Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Lake Elmo?
The average rent in Lake Elmo is $1,718 per month, which is 3.3% higher than the national average of $1,663.
What is the average rent for a house in Lake Elmo?
The average rent for a house in Lake Elmo, MN is $2,129 per month.
What is the average rent for a townhome in Lake Elmo?
The average rent for a townhome in Lake Elmo, MN is $1,687 per month.
Are rents going up or down in Lake Elmo?
Rents in Lake Elmo, MN are increasing, with prices up 1.4% year-over-year and $24 more per month.
What rent range is most common in Lake Elmo?
In Lake Elmo, MN, 100% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.