I live in Central Alabama.
I have always been concerned about rust.
I usually spend 1/2-1 day a month tuning the shop. That includes testing perpendiculars, squares, actually cleaning (and waxing) my work bench and waxing cast iron areas(Lathe bed, Drill Press Bed and column, TS bed, ...). I use Johnson Wax and have for years. I wax tools I have used once at end of day. and I still miss things i should have waxed.
If I don't wax or oil (WD-40) things they will rust.
In Alabama, because of rust, cars are considered bio-degradable.
What rust dose not get mold or Kudzu will.