Lake Mills, IA—50450
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lake Mills, IA
Lake Mills, IA lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $161,000 | 3.3% |
| Single Family | $162,000 | 4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lake Mills, IA
Lake Mills, IA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Lake Mills, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Lake Mills, IA is 34. This is a increase of 10.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $135,000 | -9.0% |
Listing Count | 8 | 4.0% |
| Listings as % of Homes | 0.5% | 4.0% |
Days on Market | 34 | 10.0% |
Demographics — Lake Mills, IA
As of the latest ACS Survey released in 2023, Lake Mills, IA has a population of 3,000, which has increased by 10.9% over the past 5 years. Lake Mills, IA is a moderately popular place for families, as children make up 20.5% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,000 | 10.9% |
% Under 18 | 20.5% | 2.5% |
% Seniors | 24.4% | 9.4% |
% WFH | 9.6% | 1,500.0% |
% w/ College Degree | 18.5% | -19.6% |
As of the latest ACS Survey released in 2023, Lake Mills, IA is a predominantly white area, with 92.8% of the population identifying as white. The white population has shrunk by 1.4% in the last 5 years. The second most common race or ethnicity in Lake Mills, IA is hispanic, making up 6.1% of the population. Foreign-born residents account for 1.3% of the population in Lake Mills, IA, and this percentage has increased by 116.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.8% | -1.4% |
% Black | 0.0% | -100.0% |
% Hispanic | 6.1% | 103.3% |
% Asian | 0.2% | 0.0% |
% Foreign Born | 1.3% | 116.7% |
Mortgage and Risk — Lake Mills, IA
According to HUD data as of 2023, there were 50 mortgage originations in Lake Mills, IA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Lake Mills, IA. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 50 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lake Mills, IA
Lake Mills, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 15 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $680 |
| 2 Bedroom | N/A | N/A | $880 |
| 3 Bedroom | N/A | N/A | $1,190 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Lake Mills, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.1 |
| Median Home Price | $161,000 |
| Median Household Income | $76,500 |