Lake Mills, IA vs Oelwein, IA

Lake Mills, IA and Oelwein, IA have a very similar cost of living, with only a 3.1% difference in their overall index. Lake Mills scores 61 while Oelwein 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 Lake Mills is $615/month compared to $762/month in Oelwein — a 19% difference. Interestingly, home values tell a different story: while Lake Mills has cheaper rent, Oelwein actually has lower median home values ($96,800 vs $127,100).

Median household income in Lake Mills is $70,333 compared to $49,821 in Oelwein (+41.2%). 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 18.4% in Oelwein.

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