Cost Of Living in Lake Mills, WI

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Lake Mills	Wisconsin	National
Cost of living	105	96	100
Goods & Services	106	97	100
Groceries	102	99	100
Health care	120	112	100
Housing	104	88	100
Transportation	101	98	100
Utilities	109	102	100

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Cost Of Living Quick Facts

The cost of living in Lake Mills is 10% higher than the Wisconsin average
The cost of living in Lake Mills is 5% higher than the national average
Lake Mills housing is 4% higher than the national average
Wisconsin general sales tax is 2% lower than the national average
Wisconsin state income tax is 36% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$81,595	$6,800	$1,904	$2,448
Renters	$41,250	$3,438	$962	$1,238

A good way to judge both the affordability of the housing and the cost of living in Lake Mills is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Lake Mills has a median income of about $81,595 for people who own homes. Based on that number, a maximum of $1,904 should be spent on expenses related to housing. Renters have a slightly different median income, which is $41,250. Based on this average, renters should spend no more than $962 on all rental costs if they want to maintain a non-impoverished standard of living.

Wisconsin Sales Tax

State	General Sales Tax	With Max Surtax
Wisconsin	5%	6.75%

Wisconsin Income Tax

State	Income Tax (Low)	Income Tax (High)
Wisconsin	3.54%	7.65%

Goods & Services

Item	Lake Mills	National avg.	Difference
Haircut	$24.26	$24.26	0.0%
Beauty Salon	$66.46	$45.56	45.9%
Toothpaste	$3.76	$3.70	1.7%
Shampoo	$1.22	$1.28	4.8%
Movie	$12.47	$12.13	2.8%
Bowling	$27.76	$18.00	54.2%

Groceries

Item	Lake Mills	National avg.	Difference
Ground Beef	$6.27	$5.84	7.4%
Fried Chicken	$1.45	$1.57	8.1%
Milk	$4.79	$4.67	2.5%
Potatoes	$4.20	$4.93	15.0%
Pizza	$10.96	$12.09	9.3%
Beer	$8.82	$10.41	15.3%

Health Care

Item	Lake Mills	National avg.	Difference
Optometrist	$70.37	$125.68	44.0%
Doctor	$222.85	$135.78	64.1%
Dentist	$122.45	$113.29	8.1%
Ibuprofen	$10.72	$10.65	0.6%
Lipitor	$506.88	$468.60	8.2%

Housing

Item	Lake Mills	National avg.	Difference
Home Price	$197,400.00	$184,700.00	6.9%
Avg. Mortgage Payment	$2,571.07	$2,346.69	9.6%
Apartment Rent	$923.00	$949.00	2.7%

Transportation

Item	Lake Mills	National avg.	Difference
Gasoline	$3.39	$3.46	2.0%
Tire Balancing	$65.66	$59.92	9.6%

Utilities

Item	Lake Mills	National avg.	Difference
All Electricity	$226.90	$193.99	17.0%
Phone	$185.25	$192.25	3.6%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Watertown, WI	23,561	100	0.4%
Waterloo, WI	3,334	101	0.6%
Fort Atkinson, WI	12,455	101	0.8%
Jefferson, WI	8,011	101	0.8%
Helenville, WI	245	102	1.9%
Lake Mills, WI	5,936	105	5.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Brownfields, LA	5,936	95	4.8%
Taylor, PA	5,935	92	8.0%
Hilmar-Irwin, CA	5,937	125	25.2%
Portland, CT	5,937	111	10.9%
Pevely, MO	5,937	89	11.5%
Lake Mills, WI	5,936	105	5.3%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Lake Mills, WI