This was 4.1 percent lower than the state average of 41 percent. In 2020 the total municipality population reached 4,427.
93.8 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Indian Mountain Lake for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 191 | 6.2 |
| Regular high school diploma | 1,057 | 34.5 |
| GED or alternative credential | 126 | 4.1 |
| Some college, less than 1 year | 226 | 7.4 |
| Some college, 1 or more years, no degree | 334 | 10.9 |
| Associate's degree | 246 | 8 |
| Bachelor's degree | 620 | 20.2 |
| Master's degree | 181 | 5.9 |
| Professional school degree | 82 | 2.7 |
| Doctorate degree | 0 | 0 |
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