Elbow Lake, MN vs Lake Wilson, MN

Elbow Lake, MN and Lake Wilson, MN have a very similar cost of living, with only a 3.5% difference in their overall index. Elbow Lake scores 62 while Lake Wilson scores 64 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 Elbow Lake is $600/month compared to $750/month in Lake Wilson — a 20% difference. Interestingly, home values tell a different story: while Elbow Lake has cheaper rent, Lake Wilson actually has lower median home values ($92,800 vs $120,800).

Median household income in Elbow Lake is $30,000 compared to $59,375 in Lake Wilson (-49.5%). While Lake Wilson is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elbow Lake spend roughly 24% of their income on rent, more than the 15.2% in Lake Wilson.