Beaver Dam, WI vs Lake Mills, WI

Beaver Dam is moderately more affordable than Lake Mills, with a 13.7% lower cost of living index. Beaver Dam scores 77 compared to 89 for Lake Mills, where the US average is 100. This difference means residents of Lake Mills can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Beaver Dam is $942/month compared to $1,095/month in Lake Mills — a 14% difference. Home values follow the same pattern: Beaver Dam is more affordable at $189,800 median vs $282,400.

Median household income in Beaver Dam is $68,757 compared to $87,039 in Lake Mills (-21%). While Lake Mills is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Beaver Dam spend roughly 16.4% of their income on rent, more than the 15.1% in Lake Mills.