Is Lake Mills, IA a Good Place to Live?
Lake Mills is a small town of 1,965 in Iowa, with a median household income of $63,750 and a 2.8% unemployment rate. Its cost of living index is 88 (US average = 100), which is 12% below the national average.
Strengths: Lake Mills stands out for an affordable cost of living, below-average home prices, short average commutes.
Trade-offs: No major red flags stand out in the available data. Whether Lake Mills is right for you depends on your priorities — the full breakdown is below.
All Lake Mills city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.
Cost of Living
Index: 87.7Lake Mills's overall cost of living index is 87.7, where 100 represents the US national average. Living in Lake Mills costs roughly 12% less than the average American city.
| Metric | Lake Mills, IA | National Avg |
|---|---|---|
| Median Home Value | $123,800 | $244,900 |
| Median Monthly Rent | $637 | $1,163 |
| Homeownership Rate | 65.5% | 65.9% |
| Median Household Income | $63,750 | $74,755 |
Crime & Safety
Crime data for Lake Mills is not currently available from the FBI's Uniform Crime Reporting program. Not all local agencies report to the UCR each year.
Schools & Education
Lake Mills is served primarily by Lake Mills Comm School District. The student-to-teacher ratio is 14.1:1 (better than the national average of ~16:1).
| Metric | Lake Mills, IA | National Avg |
|---|---|---|
| School District | Lake Mills Comm School District | — |
| Elementary Schools | 1 | — |
| Middle Schools | 1 | — |
| High Schools | 1 | — |
| Student/Teacher Ratio | 14.1:1 | 16:1 |
| Bachelor's Degree or Higher | 13.1% | 35.4% |
| High School Diploma or Higher | 93.0% | 91.1% |
Weather & Climate
Lake Mills sees average highs of 22.7°F in January and 81.3°F in July, with 37.2 inches of annual precipitation and 38.1 inches of snow per year.
| Metric | Lake Mills, IA |
|---|---|
| Average High — January | 22.7°F |
| Average High — July | 81.3°F |
| Annual Precipitation | 37.2" |
| Annual Snowfall | 38.1" |
Demographics
| Metric | Lake Mills, IA | National Avg |
|---|---|---|
| Population | 1,965 | — |
| Median Age | 47.0 | 38.9 |
| Unemployment Rate | 2.8% | 3.7% |
| Avg Commute Time | 15.3 min | 26 min |
| White (non-Hispanic) | 93.5% | 59.3% |
| Black or African American | 0.0% | 13.6% |
| Hispanic or Latino | 5.5% | 18.9% |
| Asian | 0.2% | 6.3% |
| Under 18 | 18.4% | 22.2% |
| 65 and over | 27.2% | 16.8% |
Nearby Cities
ZIP Codes in Lake Mills
Lake Mills, IA is covered by 1 ZIP code: