This was 1.6 percent lower than the state average of 46.3 percent. In 2020 the total municipality population reached 8,287.
91.5 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Lake Carmel for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 505 | 8.5 |
| Regular high school diploma | 1,807 | 30.5 |
| GED or alternative credential | 126 | 2.1 |
| Some college, less than 1 year | 296 | 5 |
| Some college, 1 or more years, no degree | 545 | 9.2 |
| Associate's degree | 485 | 8.2 |
| Bachelor's degree | 1,431 | 24.1 |
| Master's degree | 691 | 11.7 |
| Professional school degree | 18 | 0.3 |
| Doctorate degree | 25 | 0.4 |
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