This was 4.4 percent higher than the state average of 39.6 percent. In 2020 the total municipality population reached 220.
94 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Lake Ann for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 12 | 6 |
| Regular high school diploma | 67 | 33.5 |
| GED or alternative credential | 6 | 3 |
| Some college, less than 1 year | 15 | 7.5 |
| Some college, 1 or more years, no degree | 12 | 6 |
| Associate's degree | 30 | 15 |
| Bachelor's degree | 49 | 24.5 |
| Master's degree | 7 | 3.5 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 2 | 1 |
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