Lake Mills, Iowa, offers a low cost of living along with high quality services and resources. This is an excellent place to plant your roots! The Lake Mills community schools are committed to promoting and maintaining an atmosphere of teaching and learning that encourage students to pursue personal excellence and to prepare for the challenge of tomorrow.
As of 2025 the population of Lake Mills is 2,213. The population is expected to shrink to 2,193 by 2030 - a growth rate of -0.18%.
The median age of Lake Mills residents is 46.
The diversity index of Lake Mills is 31.9, meaning that there is a 32% chance that any two people selected out of 100 residents will be of different race or ethnicity from one another.
The average household income in Lake Mills is $80,792 and projected to be $87,044 in 2030. Per capita income is $34,546, projected to be $36,801 in 2030. 1.04% of households – 23 – have an income of $200,000 or higher. Average net worth is $510,268 and the average disposable income is $62,508.
There are 1,028 housing units in Lake Mills; 635 are owner-occupied, 310 are rented, and 83 are vacant. The average home value is $185,209, with 3 homes built in 2010 or later, and 260 built in 1939 or earlier.
There are 162 businesses in Lake Mills, employing 1,578 workers and pulling from a labor force of 998 age 16 and above. 168 workers commute into Lake Mills from outside the county or state. Key industries for the area include:
716 residents both live and work in/around Lake Mills. The average travel time is 0.0 minutes. 31.28% people have a commute of less than 5 minutes while 0.7% commute 90 minutes or more each way. Of commuters, 872 drive alone, 61 carpool, and 0 take public transportation. 27 use other modes of transport such as motorcycle, bicycle, walking, etc. 38 residents work from home.
612 members of the workforce hold a high school diploma or GED. 294 have associates degrees, 244 have bachelor’s degrees, and 100 hold a graduate or professional degree.
