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EconPulse

Local economy signal dashboard

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PLACEThriving

Lake Mills, WI

Thriving overall. Population is the clearest support signal, while gdp / output needs the most attention. Housing reads as affordable for a median-income household.

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Overall score86out of 100
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77
90
100
78
88

Population

6,470

Data freshness

Unknown

GDP / Output

+5.4% YoY

77

$4.9B

Output changed +5.4% in 2024.

Vintage date unknown

State growth5.0%
U.S. growth5.3%

Jobs

Unemployment rate

90

2.4%

Unemployment is 2.4% for Latest available.

Vintage date unknown

State avg3.2%
U.S. avg5.2%

Population

+9.0% 5-year

100

6,470

Population moved +9.0% over the latest ACS window.

Vintage date unknown

State population5,914,872
U.S. population334,922,499

Housing

Rent share of income

78

15.9%

Median rent consumes 15.9% of median household income: Affordable.

Vintage date unknown

State rent$1.1K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$6.6K per resident

88

$557.5M

$557.5M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$113.0B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$557.5M

$6.6K per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$479.3M
2. Department of Veterans Affairs$37.3M
3. Department of Transportation$19.4M

Top recipients

Dollars
1. WISCONSIN DEPARTMENT OF TRANSPORTATION$19.4M
2. REDACTED DUE TO PII$9.2M
3. ALDEN ESTATES OF COUNTRYSIDE INC$2.0M

Affordable

Housing Affordability

15.9%

of median income

1BR estimate$991
2BR estimate$1,306
Median income$91,027
Median home value$317,100

ACS context

Quick Facts

Population

6,470

Median age

40.3

Bachelor's degree+

45.4%

Poverty rate

5.1%

Labor force participation

72.0%

Prime rate

6.8%

CPI YoY

+3.2%

U.S. GDP YoY

+6.5%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-07-30

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+1.7%

GDP CAGR

+6.0%

Federal flow

5 years

Population (5 years)
20205,936
20216,194
20226,280
20236,391
20246,470
GDP (5 years)
2020$3.7B
2021$4.0B
2022$4.5B
2023$4.7B
2024$4.9B

2-year linear forecast

Predictive Outlook

Population forecast

20246,470
20256,634 *
20266,760 *

R² = 93.7% · * projected

GDP forecast

2024$4.9B
2025$5.3B *
2026$5.6B *

R² = 98.1% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$91,027/yr
Median rent$1,209/mo
Rent share of income15.9%
Est. mortgage (30yr, 6.5%)$19,241/yr
Mortgage share of income21.1%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate2.4%
State avg3.2%
U.S. avg5.2%
Labor force participation72.0%
Poverty rate5.1%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$317,100
Median monthly rent$1,209
Price-to-rent ratio21.9x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateStrong
Composite score87/100
Economic growth77/100
Labor market90/100
Population momentum100/100
Overall stability86/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Lake Mills city, Wisconsin

City/Town

Part of

Watertown-Fort Atkinson, WI

Nearby locations

Lake Ripley, WIJohnson Creek, WIJefferson, WICambridge, WIWaterloo, WI