This was 8.5 percent higher than the state average of 48.4 percent. In 2020 the total municipality population reached 1,081.
97.1 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Madison Lake for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 21 | 2.9 |
| Regular high school diploma | 99 | 13.6 |
| GED or alternative credential | 31 | 4.3 |
| Some college, less than 1 year | 43 | 5.9 |
| Some college, 1 or more years, no degree | 120 | 16.5 |
| Associate's degree | 126 | 17.3 |
| Bachelor's degree | 182 | 25 |
| Master's degree | 94 | 12.9 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 13 | 1.8 |
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