Housing in Lake Mills, IA
Home values, rent, ownership rates, and housing market data
Housing Market Snapshot
Source: Zillow — January 2026Zillow Home Value Index
$159,827
Lake Mills vs Similar Cities
Source: Census ACS / Redfin (2023)Compared to cities with under 10,000 residents. Lake Mills is highlighted.
Median Home Value
33rd%ilemost expensive$127,100show rank
Median Rent
8th%ilemost expensive rent$615show rank
Rent Burden
4th%ilehighest rent burden10.5%show rank
Census Housing Data
Source: U.S. Census Bureau ACS (2023)Median Home Value
$127,100
Median Rent
$615
Total Housing Units
999
Vacancy Rate
6.9%
Owner Occupied
67.1%
Renter Occupied
32.9%
Median Property Tax
$1,828
per year
Monthly Cost (w/ Mortgage)
$771
Housing Types
Single Family81.6%
Multi-Family17.4%
Mobile Home1.0%
The median home value in Lake Mills, IA is $127,100. According to Zillow, the home value index for Lake Mills is $159,827. The median rent is $615 per month (Census ACS). About 67.1% of housing units are owner-occupied. The median year homes were built is 1965. There are 999 total housing units.