Cost of Living in Lake Elmo, MN

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F
31%
Overall NAT. AVG.
1%
Groceries NAT. AVG.
104%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Lake Elmo Minnesota National
Cost of living131100100
Groceries100100100
Health care98100100
Housing204100100
Transportation98100100
Utilities106104100
Lifestyle & Entertainment97100100
Household Items101100100
Education & Childcare10499100
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Homes For Sale In Lake Elmo, MN

property for sale

212 Junco Rd N

Lake Elmo, MN
property for sale

3644 Knightsbridge Ln N

Lake Elmo, MN
property for sale

1836 Royal Blvd

Lake Elmo, MN
property for sale

11580 33rd St N

Lake Elmo, MN

Cost Of Living Quick Facts

  • The cost of living in Lake Elmo is 31% higher than the Minnesota average
  • The cost of living in Lake Elmo is 31% higher than the national average
  • Lake Elmo housing is 104% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

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      The best places in Minnesota

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      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$239,630$19,969$5,591$7,190
      Renters$52,312$4,359$1,221$1,570
      The affordability of the housing market in Lake Elmo, MN as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Lake Elmo homeowners, the median income is $239,630. This indicates that a monthly maximum of $5,591 should be spent by homeowners on all housing related costs. Renters have a median income of $52,312. This indicates that renters would have a maximum of $1,221 for their rent related monthly costs.

      Minnesota Sales Tax

      State General Sales Tax With Max Surtax
      Minnesota 6.875% 7.875%

      Minnesota Income Tax

      State Income Tax (Low) Income Tax (High)
      Minnesota 5.35% 9.85%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Houlton, WI1091000.0%
      Landfall, MN8197227.9%
      South End, MN667822.1%
      St. Anthony city (Stearns County), MN1088416.4%
      Somerset, WI2,9311010.5%
      Lake Elmo, MN9,40213131.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Rochelle, IL9,400918.9%
      Wagoner, OK9,4008614.2%
      Lake Mohawk, NJ9,39713838.0%
      Warren, PA9,3978415.7%
      Haiku-Pauwela, HI9,392204104.5%
      Lake Elmo, MN9,40213131.4%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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