This was 17.7 percent lower than the state average of 43.2 percent. In 2020 the total municipality population reached 751.
95.8 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Wauneta for 2020*
| Degree | Number of people | Percentage of population | 
|---|---|---|
| No degree | 22 | 4.2 | 
| Regular high school diploma | 126 | 24 | 
| GED or alternative credential | 34 | 6.5 | 
| Some college, less than 1 year | 37 | 7 | 
| Some college, 1 or more years, no degree | 173 | 32.9 | 
| Associate's degree | 47 | 8.9 | 
| Bachelor's degree | 56 | 10.6 | 
| Master's degree | 28 | 5.3 | 
| Professional school degree | 3 | 0.6 | 
| Doctorate degree | 0 | 0 | 

              
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