Grand Mound, IA vs Lake City, IA

Grand Mound, IA and Lake City, IA have a very similar cost of living, with only a 4.8% difference in their overall index. Grand Mound scores 66 while Lake City scores 63 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 Grand Mound is $733/month compared to $761/month in Lake City — a 4% difference. Interestingly, home values tell a different story: while Grand Mound has cheaper rent, Lake City actually has lower median home values ($103,300 vs $150,500).

Median household income in Grand Mound is $84,286 compared to $64,375 in Lake City (+30.9%). While Grand Mound is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Grand Mound spend roughly 10.4% of their income on rent, less than the 14.2% in Lake City.