Lake of the Woods, IN vs Vernon, IN

The cost of living difference between Lake of the Woods, IN and Vernon, IN is dramatic. Vernon is 31.3% cheaper than Lake of the Woods, a gap that translates to thousands of dollars per year in household expenses. Lake of the Woods has a cost index of 79 while Vernon sits at 60, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Lake of the Woods is $1,020/month compared to $688/month in Vernon — a 48% difference. Home values follow the same pattern: Vernon is more affordable at $82,500 median vs $189,600.

Median household income in Lake of the Woods is $64,375 compared to $67,188 in Vernon (-4.2%). Vernon 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 of the Woods spend roughly 19% of their income on rent, more than the 12.3% in Vernon.