Lake Mills, IA

Full City Profile · Iowa · Winnebago County County

3.7 /5.0
B+ Good
2,054 Population 758/sq mi density
$70,333 Median Income $33,609 per capita
$127,100 Home Value $171,252 Zillow
$615 Median Rent 21.3% income on rent
45°F Avg Temperature
B+
Overall
3.7 / 5.0
Good overall score based on economy, affordability, safety and education
B+
Economy
3.7 / 5.0
$70,333 median income, 2.9% unemployment
A+
Affordability
5.0 / 5.0
$127,100 home value, $615/mo rent
C
Education
2.4 / 5.0
17.3% bachelor's degree or higher

Lake Mills, IA

At a Glance

Median Income
$70,333
6% below
$33,609 per capita
Home Value
$127,100
55% below
Zillow: $171,252
Median Rent
$615/mo
47% below
21.3% of income on rent
Bachelor's Degree+
17.3%
49% below
94.9% high school+
Unemployment
2.9%
19% below
17.7% poverty rate
Obesity Rate
39.2%
22% above
15.3% smoking rate
Avg Temperature
45°F

How Lake Mills Compares to the U.S. Average

Each bar shows Lake Mills's value as a percentage of the national average (100% = U.S. avg)

Income
94%
Home Value
45%
Rent
53%
Poverty
143%
Bachelor's
51%
Unemployment
81%
Thin vertical line = U.S. national average (100%)

Is Lake Mills a Good Place to Live?

B+
3.7 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Lake Mills residents earn a median household income of $70,333 , which is 6% below the national average of $75,149. Per capita income is $33,609. The unemployment rate stands at 2.9% (19% below the U.S. rate of 3.6%). 17.7% of residents live below the poverty line. The area is home to 393 business establishments, including 21 restaurants.

Housing & Cost of Living

The median home value in Lake Mills is $127,100 , 55% below the national median of $281,900. Zillow estimates the typical home at $171,252. Median rent is $615/month, with 21.3% of renters spending more than 30% of income on housing. The cost of living index is 87.8 (100 = national average). The median home was built in 1963.

Education

17.3% of adults in Lake Mills hold a bachelor's degree or higher (49% below the national average). 94.9% have completed high school. Local schools score 5.8/10 in standardized testing.

Climate & Weather

Lake Mills has an average annual temperature of 45°F (7°C). Winters average 14°F in January while summers reach 71°F in July. Annual precipitation totals 37.2 inches.

Data Overview

People

Population2,054
Median Age43.8 yrs
Density758/mi²
Male / Female45% / 55%
Foreign Born1.9%
Veterans6.0%

Economy

B+
Median Income$70,333
Per Capita$33,609
Unemployment2.9%
Poverty17.7%
County GDP$690M
Avg Weekly Wage$904

Housing

A+
Home Value$127,100
Rent$615
Ownership67.1%
Zillow$171,252
Housing Units971
Rent Burden21.3%

Health

Obesity39.2%
Diabetes9.1%
Smoking15.3%
Heart Disease5.2%
Premature Death5,991/100K

Climate

Avg Temp45°F
Rain37.2 in/yr
Elevation1,291 ft

Education

C
Bachelor's+17.3%
High School+94.9%
Graduate+4.6%
School Score5.8/10

Community

2024 VoteR 65% / D 34%
Commute16 min
Broadband87.5%
Internet Speed76 Mbps
EV Stations8
Libraries5

Did You Know?

The median home in Lake Mills was built in 1963.
The nearest airport is Owatonna Degner Regional (51 miles).
The Gini coefficient (income inequality) is 0.439 (U.S. avg: 0.490).
Natural hazard risk is rated "Very Low" by FEMA.
14.4% of the population has a disability.
The county recorded 2 fatal vehicle crashes.