Clear Lake, IA vs Milford, IA

Clear Lake, IA and Milford, IA have a very similar cost of living, with only a 0.6% difference in their overall index. Clear Lake scores 74 while Milford scores 74 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Clear Lake is $755/month compared to $806/month in Milford — a 6% difference. Interestingly, home values tell a different story: while Clear Lake has cheaper rent, Milford actually has lower median home values ($211,000 vs $235,100).

Median household income in Clear Lake is $70,278 compared to $60,571 in Milford (+16%). While Clear Lake is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Clear Lake spend roughly 12.9% of their income on rent, less than the 16% in Milford.