Independence, IA vs Lake Mills, IA

Lake Mills is moderately more affordable than Independence, with a 11.7% lower cost of living index. Independence scores 68 compared to 61 for Lake Mills, where the US average is 100. This difference means residents of Independence can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Independence is $769/month compared to $615/month in Lake Mills — a 25% difference. Home values follow the same pattern: Lake Mills is more affordable at $127,100 median vs $156,900.

Median household income in Independence is $72,250 compared to $70,333 in Lake Mills (+2.7%). Independence 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 Independence spend roughly 12.8% of their income on rent, more than the 10.5% in Lake Mills.

Climate-wise, Independence is notably warmer with an average of 49°F compared to 45.6°F in Lake Mills. Lake Mills receives more rainfall at 36.3" per year compared to 36.3" in Independence.