Lake Placid, FL vs Mims, FL

Lake Placid, FL and Mims, FL have a very similar cost of living, with only a 1.3% difference in their overall index. Lake Placid scores 82 while Mims scores 81 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 Placid is $975/month compared to $874/month in Mims — a 12% difference. Home values follow the same pattern: Mims is more affordable at $235,600 median vs $253,200.

Median household income in Lake Placid is $45,476 compared to $57,232 in Mims (-20.5%). Mims 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 Placid spend roughly 25.7% of their income on rent, more than the 18.3% in Mims.

Climate-wise, both cities share similar average temperatures (72.8°F vs 71.6°F). Lake Placid receives more rainfall at 52.3" per year compared to 48.6" in Mims.