HomeMinnesotaWashington CountyLake Elmo city
Lake Elmo city, Minnesota: commercial real estate data.
Lake Elmo city is a Census city of 13,140 people across 22.10 square miles of land, in Washington County. Median household income is $153,669, 93.5 percent of occupied homes are owned, and the SBA record carries 39 7(a) approvals to borrowers here worth $22.7 m.
76 sourced place values · tier FULL · 8 sections · underlined figures are computed by MMCG Analytics, not published by the agency
Lake Elmo
What Lake Elmo is
- Census place typecity
- Land area22.1 sq mi
- Water area2.08 sq mi
- Population per square mile of land595
- County holding the largest share of its areaWashington County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Elmo
How many people live in Lake Elmo
- Population13,140
- Median age40.8
- Population under 183,553
- Share under 1827.0 percent
- Population 65 and over2,217
- Share 65 and over16.9 percent
- Households4,714
- Family households3,849
- Share of households that are families81.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Elmo
Income and work in Lake Elmo
- Median household income$153,669
- Per capita income$76,087
- Civilian labor force6,402
- Employed6,255
- Unemployed147 plus or minus 88
- Unemployment rate2.3 percent plus or minus 1.4
- Adults 25 and over8,872
- Adults 25 and over with a high school diploma or higher98.5 percent
- Adults 25 and over with a bachelor degree or higher61.9 percent
- Adults 25 and over with a graduate degree23.3 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Elmo
Housing in Lake Elmo
- Housing units4,897
- Occupied units4,714
- Vacant units183 plus or minus 127
- Vacancy rate3.7 percent plus or minus 2.6
- Owner occupied4,409
- Renter occupied305 plus or minus 139
- Ownership rate93.5 percent
- Median owner-occupied home value$597,000
- Median gross rent, monthly$2,407 plus or minus $1,894
- Annual rent as a share of median income18.8 percent plus or minus 14.9
- Single family units4,126
- Share single family84.3 percent
- Units in buildings of two or more197 plus or minus 114
- Share in buildings of two or more4.0 percent plus or minus 2.3
- Mobile homes574 plus or minus 204
- Median year structure built2004
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Elmo
How Lake Elmo gets to work
- Workers 16 and over who commute3,938
- Commuting under 15 minutes845 plus or minus 223
- Share commuting under 15 minutes21.5 percent plus or minus 4.9
- Commuting 30 minutes or more1,253 plus or minus 252
- Share commuting 30 minutes or more31.8 percent
- Drove alone57.1 percent
- Carpooled5.1 percent plus or minus 2.9
- Public transport0.2 percent plus or minus 0.3
- Walked0.0 percent
- Worked from home36.6 percent plus or minus 8.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Lake Elmo
SBA loans in Lake Elmo (7(a))
- Approvals39
- Gross approval$22,693,800
- Average approval$581,892
- Median approval$275,000
- Ninetieth percentile approval$1,500,000
- Largest approval$4,770,000
- Jobs supported342
- Jobs per approval8.8
- Loans with a final outcome8
- Paid in full8
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more5.1 percent
- Share to franchises15.4 percent
- Distinct lenders17
- Distinct industries by NAICS27
A charge-off rate is not published here. only 8 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Lake Elmo
SBA loans in Lake Elmo (504)
- Approvals11
- Gross approval$10,254,000
- Average approval$932,182
- Median approval$544,000
- Largest approval$2,847,000
- Jobs supported173
- Loans with a final outcome1
- Charged off0
- Median term300 months
- Distinct CDCs5
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Washington County, not Lake Elmo
Washington County context, not Lake Elmo figures
These are Washington County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as Lake Elmo measurements.
- Establishments in Washington County6,542
- Employment at those establishments, Washington County95,631
- Covered employment, Washington County95,625
- Average annual pay, Washington County$60,700
- Average weekly wage, Washington County$1,167
- Housing units permitted, Washington County1,397
- Of those, single family, Washington County1,261
- County product, 2024, Washington County$17,077,663,000
- County product change over the prior year, Washington County4.0 percent
- Average income of an arriving household, Washington County$87,864
Every figure in this section is published for Washington County as a whole and is not a measurement of Lake Elmo. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
Lake Elmo questions, answered from the record.
How many people live in Lake Elmo, Minnesota?
13,140, in 4,714 households. Lake Elmo city covers 22.10 square miles of land, which is 595 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Lake Elmo in?
Washington County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Lake Elmo?
$153,669. The median owner-occupied home is valued at $597,000. Median gross rent is $2,407 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Lake Elmo businesses?
39 7(a) approvals totalling $22.7 m, across 17 lenders, median approval $275,000, plus 11 504 approvals worth $10.3 m. These count approvals to borrowers whose address is in Lake Elmo, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Lake Elmo borrowers get paid back?
No rate is published for Lake Elmo. only 8 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page Lake Elmo figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Washington County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Lake Elmo.
Is zoning published for Lake Elmo?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.