This was 11.3 percent lower than the state average of 44.8 percent. In 2020 the total municipality population reached 768.
94.6 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Underwood for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 28 | 5.4 |
| Regular high school diploma | 174 | 33.7 |
| GED or alternative credential | 45 | 8.7 |
| Some college, less than 1 year | 41 | 7.9 |
| Some college, 1 or more years, no degree | 55 | 10.7 |
| Associate's degree | 103 | 20 |
| Bachelor's degree | 63 | 12.2 |
| Master's degree | 3 | 0.6 |
| Professional school degree | 1 | 0.2 |
| Doctorate degree | 3 | 0.6 |
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