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These days, finding an affordable place to live in the Lake Mills area can be challenging. Home prices in Lake Mills are now at a median cost of $153,169, lower than the Iowa average of $226,062.
The average cost of rent is $670/mo in Lake Mills, primarily driven by the current value of real estate in the Lake Mills area. In Lake Mills, 31.64% of households rent, and 52.05% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Lake Mills is $5,898 per month. Households that rent pay about 11.36% of their income on rent here. Lake Mills’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Joice, IA: higher priced homes
- Scarville, IA: higher priced homes
- Emmons, MN: less expensive homes
- Leland, IA: higher priced homes
- Silver Lake, IA: higher priced homes
- Mansfield, MN: less expensive homes
- Fertile, IA: higher priced homes
- Hanlontown, IA: higher priced homes
- Forest City, IA: equally priced homes
- Kiester, MN: less expensive homes
Cities with Similar Populations
- Whiteman AFB, MO: higher priced homes
- Spring Mills, PA: higher priced homes
- Stoutsville, OH: higher priced homes
- Eyota, MN: higher priced homes
- Enoree, SC: less expensive homes
- Elkland, MO: higher priced homes
- Stringer, MS: less expensive homes
- Dundas, MN: higher priced homes
- Center Harbor, NH: higher priced homes
- Castleton, VT: higher priced homes
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