Income & Economy in Lake Elmo city, MN (55042)
Median Income
$154,779
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+934
Wealth inflow
Population
13,156
Unemployment
2.2%
1.5pp below US avg
IRS migration statistics show a net inflow of about 934 for ZIP 55042 (Lake Elmo city, MN) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 55042 (2020–Present)
Since 2020, population grew 32.6%, median income fell 11.8% (inflation-adjusted), home values increased 13.0%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $154,779 |
| Unemployment | 2.2% |
| Establishments | 375 |
| Employees | 3,255 |