The story of this market
The typical home in ZIP 50450 sells for about $157,500, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $640 a month.
ZIP 50450 — Lake Mills
The housing market in 50450 is characterized by low inventory and steady, modest price appreciation. Demand is driven by local residents and retirees, resulting in a stable but slow-moving market environment.
This ZIP is well-suited for families and retirees seeking a quiet, affordable small-town lifestyle with a strong sense of community.
Median prices moved up 2.1% year over year.
Homes spend a median of 87 days on market with 4.2 months of supply — a balanced-paced market.
15% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 1.7% · poverty 10.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 50450, Winnebago County IA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Lake Mills are generally low, consistent with small-town rural Iowa trends and significantly lower than national averages.
The area is served by the Lake Mills Community School District, which is generally regarded as providing a stable, community-focused educational environment.
The region faces standard Midwestern climate risks, including seasonal severe thunderstorms and winter weather, with flood risk primarily localized to specific low-lying areas near water bodies.
Economic momentum is driven by local agriculture, manufacturing, and small business services, with steady but modest development activity.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Iowa) — Iowa Property Tax Assessment Limitation: The taxable value is determined by applying an assessment limitation (rollback) to the assessed market value. The limitation is calculated annually to restrict the growth in aggregate taxable value for the residential class to 3% statewide.
Commutes are primarily car-dependent, with residents typically traveling to nearby regional employment hubs in Winnebago or Worth counties.
The area features local parks, access to outdoor recreation typical of northern Iowa, and basic retail services within the city of Lake Mills.
The rental market is characterized by low inventory and high demand from local workers and seniors, with limited turnover.
The economy is anchored by agricultural production, local manufacturing, and regional retail services.
Transportation is almost exclusively via private vehicle, with access to regional highway corridors.
Development is primarily focused on small-scale residential infill and local infrastructure maintenance.
Parcels are subject to standard county, city, and Lake Mills Community School District tax levies.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Central community green space for local events and recreation.
Nearby outdoor area offering fishing, hiking, and nature trails.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.