Madison Lake, MN vs Montgomery, MN

Madison Lake, MN and Montgomery, MN have a very similar cost of living, with only a 3.4% difference in their overall index. Madison Lake scores 79 while Montgomery scores 82 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 Madison Lake is $829/month compared to $896/month in Montgomery — a 8% difference. Interestingly, home values tell a different story: while Madison Lake has cheaper rent, Montgomery actually has lower median home values ($218,900 vs $281,300).

Median household income in Madison Lake is $84,833 compared to $74,018 in Montgomery (+14.6%). Madison Lake offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Madison Lake spend roughly 11.7% of their income on rent, less than the 14.5% in Montgomery.

Climate-wise, both cities share similar average temperatures (46.7°F vs 46.7°F). Montgomery receives more rainfall at 30.6" per year compared to 30.6" in Madison Lake.