Lake Elmo, MN is an affluent town with a median housing value of $620,100, far exceeding the US house median value of $338,100. This is reflective of the strong real estate market in Lake Elmo over the last year, which saw an appreciation rate of 6.66%, slightly lower than the US average appreciation rate of 8.27%. With its attractive lake area and close proximity to Minneapolis, Lake Elmo continues to be a desirable location for both residents and potential homeowners.
The median home cost in Lake Elmo is $620,100. Home appreciation the last 10 years has been 94.0%. Home Appreciation in Lake Elmo is up 12.2%.
Average Age of Homes
- The median age of Lake Elmo real estate is 34 years old
The Rental Market in Lake Elmo
- Renters make up 7.4% of the Lake Elmo population
- 0.0% of houses and apartments in Lake Elmo, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.