Last updated
Average Rent in Lake Elmo 55042 & Rent Trends
Rent prices and market trends across 1 apartment community in Lake Elmo 55042, Woodbury, MN. Updated daily.
Market Average
$3,122/mo
Lowest Available
$2,925/mo
cheapest unit on market
Communities
1
tracked daily
Units Listed
13
available now
Lake Elmo 55042 vs Woodbury, MN Average
Lake Elmo 55042 is more expensive than the Woodbury, MN average by $1,209/mo (63%). The citywide average is $1,913/mo across all neighborhoods.
Is Rent Going Up or Down in Lake Elmo 55042?
As of September 2026, the average rent in Lake Elmo 55042 is $3,122 per month across 1 apartment community and 13 available units.
The most affordable option is Bentley Village starting at $2,925/mo. By unit type, a 3-bedroom averages $3,122/mo.
Prices range from $2,925 to $3,245 per month. The most common price point is the $3,000 range, where 8 units are currently listed.
Rent Price Distribution
Rent by Bedroom Type in Lake Elmo 55042
Rent Prices by Apartment in Lake Elmo 55042
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Bentley Village | $2,925/mo | $3,122/mo | 13 | 4.3 |
Frequently Asked Questions About Rent in Lake Elmo 55042
What is the average rent in Lake Elmo 55042?
Is rent going up or down in Lake Elmo 55042?
What is the cheapest apartment in Lake Elmo 55042?
How many apartments are available in Lake Elmo 55042?
What salary do I need to live comfortably in Lake Elmo 55042?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$125,000/year
Based on the 30 percent rule, using our tracked average rent of $3,122/mo.
Comfortable income
$150,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($2,925/mo), you need to earn at least $117,000/year.
Median household income in Lake Elmo 55042 is $126,222 , about 16% below the comfortable-living threshold.
Cost of living in Lake Elmo 55042
Overall prices in Lake Elmo 55042 runs above the national average by about 4% (BEA Regional Price Parity index 104.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Lake Elmo 55042's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $3,122 |
| Utilities | $474 |
| Groceries | $565 |
| Transportation | $1,131 |
| Healthcare | $552 |
| Other goods and services | $882 |
| Estimated total | $6,726/mo |
Population
76,945
Median household income
$126,222
Census median rent
$1,827/mo
Census rent burden
27.0%
Median age
37.9
Mean commute
24 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Google Search Trends for Lake Elmo 55042 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Lake Elmo 55042 Apartments
Browse all 1 communities with daily-updated pricing and availability.