Lake Mills, IA vs Montrose, IA

Lake Mills, IA and Montrose, IA have a very similar cost of living, with only a 2.9% difference in their overall index. Lake Mills scores 61 while Montrose scores 59 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 $654/month in Montrose — a 6% difference. Interestingly, home values tell a different story: while Lake Mills has cheaper rent, Montrose actually has lower median home values ($92,100 vs $127,100).

Median household income in Lake Mills is $70,333 compared to $73,333 in Montrose (-4.1%). Montrose 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 10.7% in Montrose.

Climate-wise, Montrose is notably warmer with an average of 51.9°F compared to 45.6°F in Lake Mills. Montrose receives more rainfall at 37.9" per year compared to 36.3" in Lake Mills.