Lanesboro, MN vs Wells, MN

Lanesboro, MN and Wells, MN have a very similar cost of living, with only a 2.5% difference in their overall index. Lanesboro scores 64 while Wells scores 62 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 Lanesboro is $532/month compared to $699/month in Wells — a 24% difference. Interestingly, home values tell a different story: while Lanesboro has cheaper rent, Wells actually has lower median home values ($93,200 vs $186,900).

Median household income in Lanesboro is $80,000 compared to $58,663 in Wells (+36.4%). While Lanesboro is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Lanesboro spend roughly 8% of their income on rent, less than the 14.3% in Wells.

Climate-wise, both cities share similar average temperatures (44.8°F vs 45.6°F). Wells receives more rainfall at 36.3" per year compared to 34.7" in Lanesboro.