This was 14.6 percent lower than the state average of 33.6 percent. In 2020 the total municipality population reached 135.
83.5 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Water Valley for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 20 | 16.5 |
| Regular high school diploma | 48 | 39.7 |
| GED or alternative credential | 22 | 18.2 |
| Some college, less than 1 year | 5 | 4.1 |
| Some college, 1 or more years, no degree | 3 | 2.5 |
| Associate's degree | 6 | 5 |
| Bachelor's degree | 15 | 12.4 |
| Master's degree | 2 | 1.7 |
| Professional school degree | 0 | 0 |
| Doctorate degree | 0 | 0 |
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