Apartments for Rent in Lake Elmo, MN

Prices and availability in Lake Elmo, MN were last updated on 20 Jun 2026.

The best apartments in Lake Elmo, MN are: 4047 Kokanee Ln. N., 9733 8th St. N., 9542 8th St. N., 11781 34th St. N. and 8989 42nd St N FURNISHED 1 BR Guest Suite.

The average rent in Lake Elmo, MN is $2,069.

In Lake Elmo 6% of the housing is rented out compared to 94% of homes are owned, according to the most recent Census Bureau estimates. 37% of Lake Elmo's apartments are found in large buildings of 50 units or more, 51% are located in smaller apartment complexes with less than 50 units, and 12% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Lake Elmo are about 3 years old, on average. Of these, all have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 2 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Lake Elmo come in a range of sizes and floorplans. Studio apartments represent 0% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 50% of the total apartments in the city, while 2-bedroom floorplans represent around 40% of all rentals in Lake Elmo. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.