What is the population of Lake Mills city?

Lake Mills city has 2,054 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #165 of 1,026 in Iowa.

What is the median household income in Lake Mills city?

Median household income in Lake Mills city is $70,333 a year, 10.4% below the national figure of $78,538.

How much does it cost to rent or buy in Lake Mills city?

Median gross rent is $615 a month and the median home value is $127,100, so rent absorbs about 10.5% of median household income.

Is Lake Mills city affordable compared with the rest of the US?

Homes cost about 1.8× the local median income here versus roughly 3.9× nationally, so Lake Mills city is more affordable to buy in than the typical US market, and rent takes 10.5% of median income against the 30% cost-burden line.

Aerial view of a dense city center, illustrating the US cities ZIP code directory

Iowa · Census place 42555

Lake Mills, IA population, income and ZIP codes

Quick answer

The population of the city of Lake Mills, Iowa (Lake Mills, IA — Census place “Lake Mills city”) is 2,054 residents, ranking #165 of 1026 places in Iowa. Median household income is $70,333, the median home is worth $127,100 and median gross rent runs $615 a month. Looking for the Lake Mills Iowa ZIP code list? 1 ZIP codes serve Lake Mills, IA: 50450.

Population: 2,054Lake Mills city residents
Median household income: $70,333Past 12 months, inflation adjusted
Median home value: $127,100Owner-occupied units
Median gross rent: $615Rent plus utilities, monthly
Median age: 43.8 yrsAll residents
Homeownership rate: 67.1%Owner-occupied households

Lake Mills ZIP codes (Iowa)

Census ZCTAs whose delivery area overlaps Lake Mills.

The Lake Mills IA ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

50450

What the numbers mean in Lake Mills city

Housing cost measured against local earnings.

A household earning the Lake Mills city median would spend about 10.5% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.8× the median household income; nationally that ratio sits near 4.5×. Poverty affects 15.9% of residents and 67.1% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Lake Mills city, IA in context

How this area compares with national benchmarks.

Lake Mills city is a small town in Iowa, with 2,054 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #165 of 1,026 ranked by population — larger than 84% of them. The median age here is 43.8 years against 39.1 nationally, a slightly older profile than the country as a whole. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Lake Mills city earn a median of $70,333 a year, 10.4% below the national figure of $78,538 and 4% above the $67,791 median for the 290 Iowa cities we cover. Household income here is measured before tax and pooled across everyone at the address, which is why it reads higher than typical individual earnings in the same area. Poverty reaches 15.9% of residents here, above the 12.4% national rate.

The typical owner-occupied home in Lake Mills city is valued at $127,100, 58.1% below the national figure and 19% below the $156,300 peer median, while median gross rent runs $615 a month, 56.3% below the national figure, or roughly $7,380 across a full year. A household on the local median income would put about 10.5% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 1.8×, against roughly 3.9× nationally, so purchase prices are unusually low against local pay, the pattern in places where supply is plentiful and wage growth has been flat. 67.1% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. The rent line includes utilities paid by the tenant, a definition worth remembering when comparing it against a landlord's quoted rate.

Every value on this page is published directly by the Census for this area — nothing is modelled or interpolated. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

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Frequently asked questions

Common questions about this area.

What is the population of Lake Mills city?: Lake Mills city has 2,054 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #165 of 1,026 in Iowa.
What is the median household income in Lake Mills city?: Median household income in Lake Mills city is $70,333 a year, 10.4% below the national figure of $78,538.
How much does it cost to rent or buy in Lake Mills city?: Median gross rent is $615 a month and the median home value is $127,100, so rent absorbs about 10.5% of median household income.
Is Lake Mills city affordable compared with the rest of the US?: Homes cost about 1.8× the local median income here versus roughly 3.9× nationally, so Lake Mills city is more affordable to buy in than the typical US market, and rent takes 10.5% of median income against the 30% cost-burden line.
How current is this Lake Mills city data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.