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The Master Plan for Lake Elmo includes dozens of parcels for residential and commercial development. The area is zoned to allow for single-family home, mixed-use, and commercial developments. There are no cinder-block boxes, and the city's zoning code is not designed for interstate development. In fact, it is best not to build on this land. It is possible to find affordable housing and you'll be close to the lake.
In 2010, the population of the city was approximately 1,426 people. Twenty-seven percent of the population was under the age of 18, while 14.9% of the population was between the ages of 25 and 44. Forty-nine percent were between 45 and 64 and seven percent were over 65. The population was mostly male, with approximately one woman for every two men. The city has a low crime rate, with a median income of $43,890.
The city of Lake Elmo was surrounded by sod fields for decades. That is no longer the case. Lake Elmo's population is on the rise, with more than two-thirds of the population planning to live in the city. The city's population could double in six years, according to the U.S. Census Bureau's most recent estimates. It was once the most sleepy, rural community in the metro.