Home Insurance in Lake Elmo, Minnesota
With a median home value of $597,000, Lake Elmo is 41% higher than the Washington County median.
The typical home in Lake Elmo was built around 2004. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 9% of homes were built before 1960, about 4 points below Washington County's 13%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Lake Elmo is 84% single-family homes, 3% apartments in buildings with 5+ units and 12% mobile or manufactured homes.
In Lake Elmo, about 63% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 94% of occupied homes in Lake Elmo are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Lake Elmo - 76% - are primarily heated with natural gas.
What's the biggest home insurance risk near Lake Elmo? FEMA's National Risk Index points to strong wind (Very High) in Washington County and Washington County had 323 active NFIP flood policies as of September 2026. See the full Washington County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $597,000 |
|---|---|
| Median year built | 2004 |
| Owner-occupied share | 94% |
| Share of owner-occupied homes with a mortgage | 63% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Washington County | 323 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)