Lakeville, IN vs Somerville, IN

Somerville is moderately more affordable than Lakeville, with a 13% lower cost of living index. Lakeville scores 65 compared to 58 for Somerville, where the US average is 100. This difference means residents of Lakeville 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 $613/month in Somerville — a 25% difference. Home values follow the same pattern: Somerville is more affordable at $94,100 median vs $122,300.

Median household income in Lakeville is $55,179 compared to $71,250 in Somerville (-22.6%). Somerville 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, more than the 10.3% in Somerville.