Lake Elmo, MN housing market
The typical Lake Elmo home is worth about $639,000, up 3% in a year, 82% above the Minnesota typical home. Homes typically sell in 24 days, a little above asking.
Home values, sales, trends and how Lake Elmo compares with the towns next door — updated as new data is published.
Lake Elmo at a glance
A seller's market
Supply is tight — about 2.6 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Lake Elmo | Minnesota |
|---|---|---|
| 2017 | $422,000 | $217,000 |
| 2018 | $439,000 | $232,000 |
| 2019 | $455,000 | $246,000 |
| 2020 | $471,000 | $259,000 |
| 2021 | $505,000 | $282,000 |
| 2022 | $574,000 | $313,000 |
| 2023 | $604,000 | $325,000 |
| 2024 | $608,000 | $331,000 |
| 2025 | $620,000 | $341,000 |
| 2026 | $630,000 | $349,000 |
| August 2026 | $639,000 | $351,000 |
Lake Elmo and its neighbors
| Town | Typical value | 1-yr change | Days on market | Median income |
|---|---|---|---|---|
| Lake Elmo | $639K | +3% | 24 | $153,669 |
| Oakdale | $358K | +3.7% | 22 | $93,772 |
| Stillwater | $455K | +3.9% | — | $161,563 |
| Woodbury | $462K | +1.9% | 22 | $125,310 |
| Grant | $733K | +3.6% | — | $150,875 |
| Pine Springs | $626K | +4.7% | — | $156,250 |
| Oak Park Heights | $349K | −0.1% | 51 | $82,476 |
4.2 years of income
The typical Lake Elmo home costs about 4.2 years of the town's median household income, about the same as across Minnesota (3.9).
How Lake Elmo ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.