States › Wisconsin › Lake Mills

Is Lake Mills, WI expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,33724% lower than U.S. average
💵 Families earn per year (2026)$98,173about $8,181/month · 13% higher than U.S. average
🔑 House price$317,1005% lower than U.S. average

Rent is lower than in 67% of U.S. cities. A typical house costs about 3.2 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $53,480 a year. That is $26 an hour at a full-time job.

Is rent cheaper than other Wisconsin cities?

No. Rent here is more expensive than in most of Wisconsin. It is number 81 of 156 cities from cheapest to most expensive.

Lake Mills
$1,337
Elm Grove
$2,488
Twin Lakes
$962
Slinger
$1,130
Waupaca
$825
Fox Point
$1,909
Sturtevant
$1,085

How much do households earn in Lake Mills?

Under $25k
6.2%
$25k–50k
20.6%
$50k–100k
39.0%
$100k–150k
26.4%
$150k+
7.1%

Share of households by yearly income. 33.6% of households earn $100,000 or more.

Rent by apartment size in Lake Mills

SizeLake MillsU.S. average
1 bedroom$1,286$1,324
2 bedrooms$1,339$1,509
3 bedrooms$1,241$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Lake Mills overall?

Everyday prices in Wisconsin overall are 6% below the U.S. average (index 94.1, U.S. = 100).

Housing
79
Goods (food, clothes…)
94
Utilities
90
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Lake Mills, so the Wisconsin figure is shown.

Taxes and bills in Lake Mills

🏛️ Property tax$4,892a year · 1.54% of home value · U.S. $3,119
⚡ Electric bill$140a month (typical) · U.S. $156

Life in Lake Mills

Commute to work22.8 minU.S.: 26.4 min
College degree45.4%U.S.: 35.7%
Own their home66.9%U.S.: 65.2%
Below poverty line5.1%U.S.: 12.5%
Unemployment2.4%U.S.: 5.2%

Is it cheaper to rent or buy in Lake Mills?

Renting is cheaper right now: about $863 a month less.

Renting
$1,337
Owning
$2,200

Owning assumes a typical $317,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $31,710 for the down payment.

Frequently asked questions

What is the average rent in Lake Mills, WI?

Renting in Lake Mills costs a median of about $1,337 a month in 2026, including utilities. The Wisconsin median is $1,305.

How much do I need to make to live in Lake Mills?

To keep rent under 30% of income, you need about $53,480 a year, or $26 an hour at a full-time job.

Is Lake Mills cheap or expensive?

Lake Mills is rated Cheap: rent takes 16.3% of the typical household income of $98,173. It ranks 81st cheapest of 156 Wisconsin cities we track.

How much are property taxes in Lake Mills?

The median homeowner in Lake Mills pays $4,892 a year in property taxes, about 1.54% of the median home value.

Is Lake Mills more expensive than the national average?

Overall prices in Wisconsin are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Lake Mills?

The median home value in Lake Mills is $317,100, about 3.2 times the typical yearly household income.

6,470 people live in Lake Mills. Numbers are typical (middle) values.