Lake Mills, IA vs Red Oak, IA

Lake Mills, IA and Red Oak, IA have a very similar cost of living, with only a 3.6% difference in their overall index. Lake Mills scores 61 while Red Oak 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 $768/month in Red Oak — a 20% difference. Interestingly, home values tell a different story: while Lake Mills has cheaper rent, Red Oak actually has lower median home values ($91,600 vs $127,100).

Median household income in Lake Mills is $70,333 compared to $52,996 in Red Oak (+32.7%). 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 17.4% in Red Oak.

Climate-wise, Red Oak is notably warmer with an average of 52.4°F compared to 45.6°F in Lake Mills. Lake Mills receives more rainfall at 36.3" per year compared to 31.9" in Red Oak.