Lake Mills, WI Cost Of Living
Cost Of Living In Lake Mills, WI Summary
Cost of living in Lake Mills research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Lake Mills is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Wisconsin, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Lake Mills is 104, with 100 being the average.
The cost of living index in Lake Mills is 1.0x higher than the national average.
Lake Mills ranks as the #94 cheapest in Wisconsin out of 146.
Lake Mills ranks as the #3,063 cheapest out of 6,489 in the US.
The median home value in Lake Mills is $415,235.
The median income in Lake Mills is $87,039.
Table Of Contents
Lake Mills's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Mills, WI?
According to the most recent data on the cost of living, Lake Mills has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to Wisconsin, Lake Mills has a cost of living index that's 1.1x higher than Wisconsin's index of 97.
The standard of living in Lake Mills ranks as #94 most affordable out of the 146 places we measured in Wisconsin. By definition, that implies Lake Mills ranks as the #52 most expensive place in the Badger State.
For more reading on life in Lake Mills, check out:
In Wisconsin
In America
Lake Mills Cost Of Living Vs. Wisconsin
Six factors go into calculating the cost of living index in Lake Mills. Here is how it fairs on each of the criteria:
The Services index in Lake Mills is 105.
The Groceries index in Lake Mills is 102.
The Health index in Lake Mills is 122.
The Housing index in Lake Mills is 103.
The Transportation index in Lake Mills is 102.
The Utilities index in Lake Mills is 109.
| Living Expense | Lake Mills | Wisconsin | National Average | |
|---|---|---|---|---|
| Overall | 104 | 97 | 100 | |
| Services | 105 | 95 | 100 | |
| Groceries | 102 | 98 | 100 | |
| Health | 122 | 112 | 100 | |
| Housing | 103 | 89 | 100 | |
| Transportation | 102 | 98 | 100 | |
| Utilities | 109 | 101 | 100 | |
Lake Mills, WI Housing Cost Breakdown
Housing swings affordability the most between places in Wisconsin, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Lake Mills is $415,235.
The Median Rent in Lake Mills is $1,095.
The Median Income in Lake Mills is $87,039.
The Home Value To Income in Lake Mills is 4.8x.
The Rent To Monthly Income in Lake Mills is 0.15x.
| Statistic | Lake Mills | Wisconsin | United States |
|---|---|---|---|
| Median Home Value | $415,235 | $328,216 | $303,400 |
| Median Rent | $1,095 | $1,045 | $1,348 |
| Median Income | $87,039 | $75,670 | $78,538 |
| Home Value To Income | 4.8x | 4.3x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Mills, WI Costs By Category
Detailed Lake Mills Services Costs Vs. Wisconsin
| Item | Lake Mills | Wisconsin |
|---|---|---|
| Shampoo | $1.22 | $1.28 |
| Movie | $12.47 | $12.13 |
| Bowling | $27.76 | $18.0 |
| Haircut | $24.26 | $24.26 |
| Beauty Salon | $66.46 | $45.56 |
Detailed Lake Mills Groceries Costs Vs. Wisconsin
| Item | Lake Mills | Wisconsin |
|---|---|---|
| Ground Beef | $6.27 | $5.84 |
| Fried Chicken | $1.45 | $1.57 |
| Milk | $4.79 | $4.67 |
| Potatoes | $4.2 | $4.93 |
| Pizza | $10.96 | $12.09 |
| Beer | $8.82 | $10.41 |
| Toothpaste | $3.76 | $3.7 |
Detailed Lake Mills Health Costs Vs. Wisconsin
| Item | Lake Mills | Wisconsin |
|---|---|---|
| Optometrist | $70.37 | $125.68 |
| Doctor | $222.85 | $135.78 |
| Dentist | $122.45 | $113.29 |
Detailed Lake Mills Transportation Costs Vs. Wisconsin
| Item | Lake Mills | Wisconsin |
|---|---|---|
| Gasoline | $3.39 | $3.46 |
| Tire Balancing | $65.66 | $59.92 |
Detailed Lake Mills Utilities Costs Vs. Wisconsin
| Item | Lake Mills | Wisconsin |
|---|---|---|
| All Electricity | $226.9 | $193.99 |
| Phone | $185.25 | $192.25 |
Lake Mills SnackAbility
/10
Cost Of Living In Cities Around Lake Mills
The cost of living varies in the cities and towns around Lake Mills. Here's a quick look at the cost of living in the most populous nearby places:
Sun Prairie, WI has a cost of living index of 114, 1.1x Lake Mills.
Watertown, WI has a cost of living index of 101, 1.0x Lake Mills.
Whitewater, WI has a cost of living index of 100, 1.0x Lake Mills.
| City | Population | Cost Of Living | Vs. Lake Mills |
|---|---|---|---|
| Sun Prairie, WI | 36,455 | 114 | 1.1x |
| Watertown, WI | 22,873 | 101 | 1.0x |
| Whitewater, WI | 15,705 | 100 | 1.0x |
| Stoughton, WI | 13,063 | 109 | 1.0x |
| Fort Atkinson, WI | 12,490 | 102 | 1.0x |
| McFarland, WI | 9,230 | 117 | 1.1x |
| Cottage Grove, WI | 7,906 | 119 | 1.1x |
| Jefferson, WI | 7,722 | 102 | 1.0x |
| Edgerton, WI | 5,924 | 100 | 1.0x |
