
Housing costs in Lake Elmo?
A typical home costs
$620,100, which is 83.4% more expensive than the national average of
$338,100 and 100.4% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lake Elmo costs
$1,370 per month, which is 4.2% cheaper than the national average of
$1,430 and 9.5% more than the state average of
$1,240.
Can I afford Lake Elmo?
To live comfortably in Lake Elmo, Minnesota, a minimum annual income of
$118,800 for a family, and
$44,800 for a single person is recommended.
What does A.I. say about Lake Elmo?
Lake Elmo, MN has a fairly moderate cost of living compared to other cities in the US. Although food and housing are slightly more expensive than the national average, transportation costs and healthcare expenses are lower. Taking this into consideration, overall living expenses in Lake Elmo are relatively affordable. The median home price for the area is around $371,500 with rent averaging at $1,636 per month. Other common household expenses such as groceries, utilities, and health care are also relatively reasonable when compared to other cities across the US.