This was 9.2 percent lower than the state average of 41.1 percent. In 2020 the total municipality population reached 5,067.
92.2 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Iowa Falls for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 265 | 7.8 |
| Regular high school diploma | 1,143 | 33.5 |
| GED or alternative credential | 140 | 4.1 |
| Some college, less than 1 year | 152 | 4.5 |
| Some college, 1 or more years, no degree | 619 | 18.2 |
| Associate's degree | 385 | 11.3 |
| Bachelor's degree | 450 | 13.2 |
| Master's degree | 196 | 5.8 |
| Professional school degree | 32 | 0.9 |
| Doctorate degree | 25 | 0.7 |
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