Lake Mills, IA 50450 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Lake Mills, IA—50450

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$162,000

4.5% YoY Growth

Household Income

$76,500

49.3% YoY Growth

Days on Market

58

37.0% Shorter YoY

Home Price Forecast

N/A

Median Rent

N/A

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

N/A

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	$162,000	4.5%
Single Family	$162,000	5.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

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

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% of Rental Stock

1 Bedroom

20.3%

2 Bedrooms

62.5%

3 Bedrooms

11.5%

4 Bedrooms

5.7%

Property Listings — Lake Mills, IA

As of Dec '25, Realtor.com reports that the median days on market for a home in Lake Mills, IA is 51. This is a decrease of -27.0% from last year, suggesting that homes are sitting on the market shorter 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	$124,000	-39.0%
Listing Count	8	21.0%
Listings as % of Homes	0.5%	21.0%
Days on Market	58	-37.0%

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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%

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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%

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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%

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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

Lake Mills, IA—50450

Key Metrics at a Glance

Home Price Trends — Lake Mills, IA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake Mills, IA

% of Rental Stock

Property Listings — Lake Mills, IA

Demographics — Lake Mills, IA

Race and Ethnicity

Mortgage and Risk — Lake Mills, IA

Mortgages

Rentals and Section 8 — Lake Mills, IA

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake Mills, IA

Home Price to Income Ratio

Lake Mills, IA — ZIP Code Boundary Map

Nearby ZIP Codes

Emmons, MN

Joice, IA

Twin Lakes, MN

Fertile, IA

Joice, IA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2
Median Home Price	$162,000
Median Household Income	$76,500

Lake Mills, IA—50450

Key Metrics at a Glance

Home Price Trends — Lake Mills, IA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Lake Mills, IA

% of Rental Stock

Property Listings — Lake Mills, IA

Demographics — Lake Mills, IA

Race and Ethnicity

Mortgage and Risk — Lake Mills, IA

Mortgages

Rentals and Section 8 — Lake Mills, IA

Section 8 Market Size

Section 8 Opportunity

Affordability — Lake Mills, IA

Home Price to Income Ratio

Lake Mills, IA — ZIP Code Boundary Map

Nearby ZIP Codes

Emmons, MN

Joice, IA

Twin Lakes, MN

Fertile, IA

Joice, IA

Frequently Asked Questions

What is the average home price in Lake Mills, IA 50450?

How have home prices in Lake Mills, IA 50450 changed over the past year?

What is the home price projection for Lake Mills, IA 50450?

What are the demographics of Lake Mills, IA 50450?

How long does it take homes to sell in Lake Mills, IA 50450?

What is the average rent price in Lake Mills, IA 50450?