Lake Mills, WI vs Oconomowoc, WI

Lake Mills is moderately more affordable than Oconomowoc, with a 11.7% lower cost of living index. Lake Mills scores 89 compared to 101 for Oconomowoc, where the US average is 100. This difference means residents of Oconomowoc can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Lake Mills is $1,095/month compared to $1,235/month in Oconomowoc — a 11% difference. Home values follow the same pattern: Lake Mills is more affordable at $282,400 median vs $367,700.

Median household income in Lake Mills is $87,039 compared to $105,833 in Oconomowoc (-17.8%). While Oconomowoc is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lake Mills spend roughly 15.1% of their income on rent, more than the 14% in Oconomowoc.