Housing costs in Lake Elmo?
A typical home costs
$606,500, which is 79.4% more expensive than the national average of
$338,100 and 96.0% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Lake Elmo costs
$1,350 per month, which is 8.9% more than the national average of
$1,240 and 3.7% cheaper than the state average of
$1,400.
Can I afford Lake Elmo?
To live comfortably in Lake Elmo (zip 55042), Minnesota, a minimum annual income of
$116,280 for a family, and
$44,000 for a single person is recommended.
What does A.I. say about Lake Elmo?
The cost of living in 55042 Lake Elmo, MN is slightly higher than the national average. The median home value in this area is around $370,000 and the median rent is around $1,400 per month. Taxes are also slightly above average compared to other areas of the country. Additionally, prices for goods and services such as food, entertainment, and transportation tend to be slightly higher than other parts of the nation. Overall, residents in 55042 Lake Elmo can expect their cost of living to be slightly more expensive than what they would find elsewhere in the United States.