Lake Mills vs Waterloo

A side-by-side comparison of Lake Mills and Waterloo: population, income, housing, and more.

Lake Mills and Waterloo are places in Wisconsin. This page compares them across population, income, housing, education, commuting, and how each has changed since 2019.

Lake Mills has the higher population (6,391 vs 3,542 in Waterloo). Lake Mills has the higher median household income ($87,039 vs $78,103 in Waterloo). Lake Mills has the higher median home value ($282,400 vs $219,100 in Waterloo).

Population, income & housing

	Lake Mills	Waterloo
Population	6,391	3,542
Median age	40.2 yrs	38.3 yrs
Median household income	$87,039	$78,103
Median home value	$282,400	$219,100
Median gross rent	$1,095	$974
Housing units	2,800	1,620
Homeownership rate	68.6%	65.7%
Bachelor's degree or higher	45.0%	23.9%
Unemployment rate	0.5%	0.6%

Trends (ACS 5-year, 2019–2023)

	Lake Mills	Waterloo
Population	5,895 → 6,391 (+8.4%)	3,337 → 3,542 (+6.1%)
Median household income	$70,239 → $87,039 (+23.9%)	$75,438 → $78,103 (+3.5%)
Median home value	$198,100 → $282,400 (+42.6%)	$161,500 → $219,100 (+35.7%)
Median gross rent	$978 → $1,095 (+12.0%)	$753 → $974 (+29.3%)

Lake Mills

Population

5,8956,391

Median household income

$70,239$87,039

Median home value

$198,100$282,400

Median gross rent

$978$1,095

Waterloo

Population

3,3373,542

Median household income

$75,438$78,103

Median home value

$161,500$219,100

Median gross rent

$753$974

Age & race/ethnicity

Age distribution (share)

	Lake Mills	Waterloo
Under 5	4.1%	3.9%
5 to 17	17.9%	16.4%
18 to 24	7.7%	9.7%
25 to 34	14.9%	14.1%
35 to 44	12.6%	12.6%
45 to 54	14.4%	12.0%
55 to 64	10.5%	15.9%
65 to 74	13.5%	8.9%
75 and over	4.4%	6.5%

Race & ethnicity (share)

	Lake Mills	Waterloo
White (non-Hispanic)	87.1%	78.7%
Black or African American	1.1%	0.0%
American Indian & Alaska Native	0.0%	0.0%
Asian	0.5%	0.0%
Native Hawaiian & Pacific Islander	0.0%	0.0%
Some other race	0.0%	0.0%
Two or more races	3.1%	2.2%
Hispanic or Latino	8.2%	19.1%

Educational attainment (age 25+)

Share of adults 25+

	Lake Mills	Waterloo
No high school diploma	3.5%	9.6%
High school graduate	24.6%	41.7%
Some college or associate's	26.9%	24.8%
Bachelor's degree	28.9%	19.6%
Graduate or professional degree	16.1%	4.4%

Commute to work

How workers get to work (share)

	Lake Mills	Waterloo
Drove alone	83.1%	80.9%
Carpooled	1.6%	4.1%
Public transit	0.0%	0.0%
Walked	0.9%	0.0%
Bicycle	0.0%	0.9%
Worked from home	14.3%	14.1%
Other means	0.0%	0.0%

Housing

Units in structure (share)

	Lake Mills	Waterloo
1-unit, detached	65.0%	63.0%
1-unit, attached	2.9%	5.8%
2 to 4 units	6.7%	15.2%
5 to 19 units	14.1%	12.2%
20 or more units	2.9%	1.5%
Mobile home & other	8.3%	2.3%

Poverty & households

	Lake Mills	Waterloo
Poverty rate	4.9%	16.1%
Average household size	2.56	2.25
Mean commute (minutes)	25	29
Median year structure built	1981	1965