Gilbert, MN vs Lake Park, MN

Gilbert is moderately more affordable than Lake Park, with a 12% lower cost of living index. Gilbert scores 58 compared to 66 for Lake Park, where the US average is 100. This difference means residents of Lake Park can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Gilbert is $598/month compared to $717/month in Lake Park — a 17% difference. Home values follow the same pattern: Gilbert is more affordable at $116,200 median vs $160,900.

Median household income in Gilbert is $62,625 compared to $63,250 in Lake Park (-1%). Lake Park does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Gilbert spend roughly 11.5% of their income on rent, less than the 13.6% in Lake Park.

Climate-wise, Lake Park is notably warmer with an average of 42.2°F compared to 36.9°F in Gilbert. Gilbert receives more rainfall at 24.8" per year compared to 24" in Lake Park.