Loraine, IL vs New Milford, IL

Loraine is moderately more affordable than New Milford, with a 7.8% lower cost of living index. Loraine scores 60 compared to 65 for New Milford, where the US average is 100. This difference means residents of New Milford can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Loraine is $629/month compared to $750/month in New Milford — a 16% difference. Home values follow the same pattern: Loraine is more affordable at $88,100 median vs $130,200.

Median household income in Loraine is $56,855 compared to $73,125 in New Milford (-22.2%). While New Milford is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Loraine spend roughly 13.3% of their income on rent, more than the 12.3% in New Milford.

Climate-wise, Loraine is notably warmer with an average of 53°F compared to 49.4°F in New Milford. New Milford receives more rainfall at 37.2" per year compared to 36.4" in Loraine.