Lake Mills, IA vs McGregor, IA

Lake Mills, IA and McGregor, IA have a very similar cost of living, with only a 2.1% difference in their overall index. Lake Mills scores 61 while McGregor scores 62 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 Lake Mills is $615/month compared to $618/month in McGregor — a 1% difference. Home values follow the same pattern: Lake Mills is more affordable at $127,100 median vs $141,900.

Median household income in Lake Mills is $70,333 compared to $58,750 in McGregor (+19.7%). Lake Mills offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lake Mills spend roughly 10.5% of their income on rent, less than the 12.6% in McGregor.

Climate-wise, both cities share similar average temperatures (45.6°F vs 48.1°F). Lake Mills receives more rainfall at 36.3" per year compared to 33.9" in McGregor.