Lake Elmo, MN
Discover how far your salary goes in Lake Elmo. Compare taxes, rent, and living costs.
11,335
9.8%
$1,386
/month
-1%
below avg
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Rent Prices in Lake Elmo
Studio
$1,109
/month
$13,308/year
1 Bedroom
$1,386
/month
$16,632/year
2 Bedroom
$1,871
/month
$22,452/year
3 Bedroom
$2,426
/month
$29,112/year
Taxes in Minnesota
State Income Tax
Minnesota
For a $100k salary, that's ~$9,850/year in state taxes.
Federal Income Tax
Same nationwide
Federal taxes use progressive brackets. The more you earn, the higher your marginal rate.
Learn how tax brackets workMore Affordable Alternatives
Cities with lower cost of living where your money goes further:
Frequently Asked Questions
What is the cost of living in Lake Elmo, MN?▼
Lake Elmo has a cost of living index of 123, which is 23% above the national average. A 1-bedroom apartment costs around $1,386/month.
What is the state income tax in Minnesota?▼
Minnesota has a state income tax rate of approximately 9.8%. This is in addition to federal income tax.
How much is rent in Lake Elmo?▼
The median rent for a 1-bedroom apartment in Lake Elmo is $1,386/month. For a 2-bedroom, expect to pay around $1,871/month. This is 1% below the national average.
Is Lake Elmo a good place to live?▼
Lake Elmo is a town with a population of 11,335. The cost of living is above average, making it more expensive than average for the US.
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