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Lake Mills city, IA

ZIP 50450 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 50450

Median Home Value
$157,500
Median Rent
$544
Affordability Snapshot
$43,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,012/mo PITI).

9%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.1x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.1 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 50450 in Lake Mills city, IA, a household would need roughly $43,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,012. That sits below the local median household income ($76,522), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
74.0%+13% vs US avg
x
Vacancy Rate
9.7%-6% vs US avg
x
Broadband Access
87.7%+1% vs US avg
x
4+ Bedrooms
3.5%-76% vs US avg
x
Built Pre-1939
3.6%-72% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
20.3%-59% vs US avg
x
Mortgage-Free
51.5%+35% vs US avg
x
$157,500
Home Value
$544
Rent
1963
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached87.0%
  • 1-unit attached0.2%
  • 2-9 units6.4%
  • 10+ units5.6%
  • Mobile home & other0.7%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$157,500
Median rent$544
Owner-occupied74.0%
Vacant9.7%
Price-to-income2.1x
Est. income to buy$43,000