Lake Mills city, Iowa Demographics & Population 2026
As of 2026, Lake Mills city, Iowa has a total population of 2,054, the 165th largest city in Iowa, with a median household income of $70,333, which is 4% lower than the state average. The poverty rate is 15.9%.
Key Takeaways
- Housing is very affordable with a home-value-to-income ratio of just 1.8x.
Lake Mills city Quick Facts
How Lake Mills city Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 30 | National average: 60
Education
Educational Attainment (Adults 25+)
Lake Mills city Rankings in Iowa
Explore Iowa Rankings
Cities Similar to Lake Mills city
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Epworth city | 1,991 | $73,571 | $229,200 | 28.4% | 3.9% |
| Wapello city | 1,935 | $71,131 | $128,800 | 17.8% | 6.7% |
| Mediapolis city | 1,930 | $71,250 | $167,300 | 34.3% | 9.7% |
| Columbus Junction city | 2,129 | $76,518 | $114,200 | 17.1% | 9.5% |
| Ogden city | 1,902 | $70,556 | $155,800 | 19.6% | 8.8% |
Population Overview
Lake Mills city is a small community located in Iowa. The total population is 2,054. It ranks as the 165th most populous out of 1,018 cities and towns in Iowa.
Age Demographics
The median age in Lake Mills city is 43.8 years. This is 13% higher than the state median of 38.6 years. 15.3% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Lake Mills city is $70,333. This is 4% lower than the state median of $73,147. Compared to the national median of $78,538, household income here is 10% lower. The poverty rate stands at 15.9%. This is 44% higher than the state poverty rate of 11.0%. The unemployment rate is 2.9%. This is 20% lower than the state rate of 3.6%. The median home value is $127,100. Housing costs are 35% lower than the state median of $195,900. With a home-value-to-income ratio of just 1.8x, Lake Mills city is one of the most affordable housing markets in the area. 67.1% of occupied housing units are owner-occupied. This homeownership rate is 6% lower than the state average of 71.5%.
Race & Ethnicity
Lake Mills city has a predominantly White (non-Hispanic) population, comprising 90.2% of all residents. Hispanic or Latino residents account for 9.0%. The Asian population (0.2%) is well below the state average of 2.4%.
Education
17.3% of residents aged 25 and older hold a bachelor's degree or higher. This is 44% lower than the state rate of 30.9%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 94.9%.
Data Sources & Methodology
All demographic data for Lake Mills city, Iowa is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Iowa state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,018 Census-designated places in Iowa. For official data, visit data.census.gov.
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Frequently Asked Questions
What is the population of Lake Mills city, Iowa?
Lake Mills city, Iowa has a population of 2,054 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Lake Mills city, IA?
The median household income in Lake Mills city is $70,333, which is 10% lower the national median of $78,538.
What is the poverty rate in Lake Mills city, IA?
The poverty rate in Lake Mills city is 15.9%. This means approximately 318 residents live below the federal poverty line.
What is the racial makeup of Lake Mills city, Iowa?
Lake Mills city's population is 90.2% White, 0.0% Black, 9.0% Hispanic/Latino, and 0.2% Asian.
What is the median home value in Lake Mills city, IA?
The median home value in Lake Mills city is $127,100. The home-value-to-income ratio is 1.8x.
How educated is Lake Mills city, Iowa?
17.3% of adults (25+) in Lake Mills city hold a bachelor's degree or higher, and 5.2% hold a graduate or professional degree.