542 Hazel St N
St. PaulMN55119
Cheap Homes for Rent in Lake Elmo, MN from $1,500 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Lake Elmo.
161 1st Ave N
BayportMN55003
1945 Hawthorne Ave E
St. PaulMN55119
2355 Springside Dr E
MaplewoodMN55119
16 Cimarron
Lake ElmoMN55042
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
2571 Mallard Dr
WoodburyMN55125
535 6th St N
HudsonWI54016
691 Cimarron
Lake ElmoMN55042
154 Cimarron
Lake ElmoMN55042
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$2,063Studio Apartments Available Now
Furnished Studio-Minneapolis - Woodbury
10020 Hudson RdWoodbury, MN 55129
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
16724 Upper 5th St N
LakelandMN55043
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Lake Elmo, MN Local Guide
Winter at Lake Elmo Park Reserve in Washington County, Minnesota by Tony Webster is licensed under CC BY 2.0
How much does it cost to rent a home in Lake Elmo?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Lake Elmo 2 Bedroom Homes for Rent | $2,110 | $1,500 | $2,595 |
| Lake Elmo 3 Bedroom Homes for Rent | $2,494 | $1,750 | $3,500 |
| Lake Elmo 4 Bedroom Homes for Rent | $3,245 | $1,950 | $4,400 |
| Lake Elmo 5 Bedroom Homes for Rent | $4,287 | $3,150 | $7,000 |
| Lake Elmo 6 Bedroom Homes for Rent | $4,743 | $3,600 | $5,995 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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Lake Elmo, MN Local Guide
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Cheapest Available Lake Elmo Apartments for Rent
The cheapest available apartment rental in Lake Elmo, MN is a 1 Bed unit found at Minnehaha Manor in the Midvale neighborhood priced from $1,239. Oakdale Commons - 55+ in the Turnberry Heritage Townhomes neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,345. Here is today’s list of the most affordable Lake Elmo apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Minnehaha Manor | Birch | 1BR,1BA | $1,239 |
| Oakdale Commons - 55+ | Willow Oak | 1BR,1BA | $1,345 |
| Cedric's Landing | Studio, 1 Bathroom | Studio,1BA | $1,404 |
| Reserve At Settlers Ridge | Spruce - 60% AMI | 1BR,1BA | $1,408 |
| Crown Villa Apartments | 1 Bedroom/1Bath | 1BR,1BA | $1,429 |
Best Value Apartments for Rent in Lake Elmo, MN
As of June 02, 2026 the best value apartment in the Lake Elmo area is the $1.32 price per square foot The Craftsman Model at Meridian at CityPlace in the in the Turnberry Heritage Townhomes neighborhood starting from $2,990. The second greatest value Lake Elmo apartment is the Aegean Model at The Harlan starting at $2,425 with a $1.19 price per square foot in the Washington Far Eastern Suburbs neighborhood. Here is today’s list of the best values for Lake Elmo apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Meridian at CityPlace | The Craftsman | 3BR,3.5BA | $1.32 |
| The Harlan | Aegean | 3BR,2BA | $1.19 |
| Woodhelm Townhomes | Grove-A | 2BR,2.5BA | $1.82 |
| Bentley Village | Raleigh | 3BR,3BA | $1.74 |
| Eastgate Apartments | 2 Bedroom Renovated | 2BR,1BA | $1.63 |
| The Legends of Woodbury 55+ Apartments | Two Bedroom - D | 2BR,1BA | $1.85 |
| City Walk at Woodbury | Ashbury | 1BR,1BA | $1.93 |
| BRIARCLIFF APARTMENTS | Walnut | 2BR,1BA | $1.88 |
| Crown Villa Apartments | 1 Bed/1Bath- ADA unit | 1BR,1BA | $1.89 |
| Oakdale Commons - 55+ | Willow Oak | 1BR,1BA | $1.87 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read Article
Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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See the most popular apartments and homes in Lake Elmo, MN
Frequently Asked Questions about Lake Elmo
What type of rentals are currently available in Lake Elmo?
There are currently 67 Apartments for Rent in Lake Elmo, MN with pricing that ranges from $1,233 to $5,745. There are also 40 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lake Elmo ranging from $1,500 to $7,000.
What is the current price range for Rental Homes in Lake Elmo?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Lake Elmo ranges from $1,500 to $7,000 with an average monthly rent of $3,375.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips
Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.