Living in Lake Mills, Iowa
Cost of living, income, home prices, rent and demographics of Lake Mills · Census data 2020–2024
Lake Mills has 2,088 residents with a median age of 46.2. The median household income is $61,875 (18% lower than the Iowa median), the median home value is $122,600, the median rent is $624/month.
Lake Mills at a glance
- Population
- 2,088
- Median age
- 46.2State: 38.6
- Median household income
- $61,875State: $75,059
- Median home value
- $122,600State: $208,000
- Median rent
- $624/moState: $972
- Homeowners
- 62.8%
- Bachelor's degree or higher
- 18%
- Average commute
- 15 min
Is Lake Mills a good place to live?
Pros: Home values 41% lower than the state median; an average commute of 15 minutes; unemployment of 1.6%.
Cons: Median household income 18% lower than the Iowa median; a poverty rate of 15.3%.
The weather is best in June to September.
Cost of living in Lake Mills
Housing is the biggest part of the cost of living. In Lake Mills the median home value is $122,600, 63% lower than the U.S. median. Renters pay a median of $624 per month, which is 23% of household income. Homeowners with a mortgage pay $1,143 a month in housing costs.
Lake Mills median household income
The median household income in Lake Mills is $61,875 and the income per person is $35,450. 15.3% of residents live below the poverty line (Iowa: 11.1%).
Housing in Lake Mills: homes for sale and rent
- Housing units
- 1,100
- Owner-occupied
- 62.8%
- Renter-occupied
- 37.2%
- Vacant
- 9.7%Includes seasonal homes
- Median year built
- 1964
- Average household size
- 2.05
Lake Mills demographics
- Population
- 2,088
- Median age
- 46.2
- Under 18
- 17.4%
- 65 and older
- 23.3%
- Households
- 993
- Foreign-born
- 2.1%
- Veterans
- 5.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Mills ›
Education in Lake Mills
18% of adults 25 and older in Lake Mills have a bachelor's degree or higher (Iowa: 31.4%), and 4.3% have a graduate or professional degree.
Jobs and commute in Lake Mills
- Unemployment rate
- 1.6%State: 3.6%
- Average commute
- 15 minState: 20 min
- Work from home
- 4.4%
- Drive alone
- 86.8%
- Public transit
- 0%
- Walk to work
- 1.5%
- Homes with broadband
- 86.4%
Lake Mills vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Mills | 2,088 | $61,875 | $122,600 | $624 |
| Joice | 207 | $66,250 | $96,900 | $800 |
| Emmons | 363 | $57,969 | $106,700 | $792 |
| Leland | 306 | $52,500 | $92,900 | $789 |
| Twin Lakes | 158 | $55,089 | — | $558 |
| Fertile | 255 | $65,000 | $143,800 | $858 |
| Hanlontown | 249 | $72,813 | $106,800 | $794 |
| Kiester | 494 | $52,727 | $58,800 | $820 |
| Forest City | 4,290 | $69,205 | $143,500 | $720 |
More for people moving to Lake Mills
Lake Mills ZIP code ›Weather and climate ›Living in Lake Mills: FAQ
What is the median household income in Lake Mills, IA?
The median household income in Lake Mills is $61,875, 18% lower than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lake Mills?
The median home value in Lake Mills is $122,600, compared with $208,000 in Iowa.
How much is rent in Lake Mills?
The median gross rent in Lake Mills is $624 per month, about 23% of household income.
Is Lake Mills, IA a good place to live?
Pluses: home values 41% lower than the state median; an average commute of 15 minutes; unemployment of 1.6%. Minuses: median household income 18% lower than the Iowa median; a poverty rate of 15.3%.
What is the median age in Lake Mills?
The median age in Lake Mills is 46.2 years (Iowa: 38.6).
How long is the commute in Lake Mills?
The average commute to work in Lake Mills is 15 minutes; 4.4% of workers work from home.
What is the unemployment rate in Lake Mills?
The unemployment rate in Lake Mills is 1.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Mills?
18% of adults in Lake Mills have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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