Lakeville, IN vs Milford, IN

Lakeville is moderately more affordable than Milford, with a 12.8% lower cost of living index. Lakeville scores 65 compared to 75 for Milford, where the US average is 100. This difference means residents of Milford can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Lakeville is $769/month compared to $1,038/month in Milford — a 26% difference. Home values follow the same pattern: Lakeville is more affordable at $122,300 median vs $135,300.

Median household income in Lakeville is $55,179 compared to $52,014 in Milford (+6.1%). Lakeville offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Lakeville spend roughly 16.7% of their income on rent, less than the 23.9% in Milford.