This was 16.2 percent lower than the state average of 48.4 percent. In 2020 the total municipality population reached 629.
98.2 percent of the population had at least a high school diploma or the equivalent.
Degree distribution in Graceville for 2020*
| Degree | Number of people | Percentage of population |
|---|---|---|
| No degree | 8 | 1.8 |
| Regular high school diploma | 202 | 46.1 |
| GED or alternative credential | 13 | 3 |
| Some college, less than 1 year | 12 | 2.7 |
| Some college, 1 or more years, no degree | 62 | 14.2 |
| Associate's degree | 71 | 16.2 |
| Bachelor's degree | 46 | 10.5 |
| Master's degree | 16 | 3.7 |
| Professional school degree | 5 | 1.1 |
| Doctorate degree | 3 | 0.7 |

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