Lake Mills, IA vs University Park, IA

Lake Mills, IA and University Park, IA have a very similar cost of living, with only a 1.1% difference in their overall index. Lake Mills scores 61 while University Park 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 $731/month in University Park — a 16% difference. Interestingly, home values tell a different story: while Lake Mills has cheaper rent, University Park actually has lower median home values ($92,700 vs $127,100).

Median household income in Lake Mills is $70,333 compared to $65,815 in University Park (+6.9%). 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 13.3% in University Park.

Climate-wise, University Park is notably warmer with an average of 50.7°F compared to 45.6°F in Lake Mills. University Park receives more rainfall at 37" per year compared to 36.3" in Lake Mills.