Cost of Living in Lake Mills, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
92.0
100 = national avg
-8.0 vs national average
Living Wage (1 Adult)
$40,501
per year
Living Wage (Family of 4)
$95,730
per year
Cost Index by Category
Housing69.5
Food103.8
Transportation107.5
Healthcare103.0
Utilities96.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$731
per month
2 Bedroom
$919
per month
The overall cost of living index in Lake Mills is 92.0, which is 8.0% below the national average. Housing costs are below the national average at an index of 69.5. A single adult needs to earn approximately $40,501 per year to cover basic expenses.