Mico's housing stock consists largely of lake houses, cabins, and modest single-family homes clustered along County Road 271, FM 1283, and the shoreline roads east of the dam. The mix includes older weekend cottages, manufactured homes, and newer custom residences built for lake views and boat access. Because Medina Lake is a reservoir whose levels fluctuate with drought and irrigation demand, waterfront access varies, and buyers weigh that reality when choosing property. The community's small scale and rural setting attract anglers, retirees, and those seeking a second home within an easy drive of San Antonio.

Mico is a linear, lake-oriented community rather than a conventional town. Development strings along County Road 271 and Farm to Market Road 1283, with homes and small businesses clustered near the lake's eastern shore and the main dam. The shoreline itself is the community's organizing feature, with boat ramps, marinas, and waterfront properties scattered among the coves. There are no formal subdivisions or a downtown core; instead, Mico reads as a collection of lake neighborhoods bound together by the reservoir and its fishing heritage.

Mico's lifestyle is defined by the lake. It grew up as a fishing resort and weekend destination, and that identity endures in its marinas, boat ramps, and the casual mix of full-time and seasonal residents who live along the shore. Life here moves at a relaxed, water-oriented pace, with mornings on the lake and evenings on the porch. The surrounding Medina County countryside — oak and juniper hills, ranchland, and long lake views — adds a distinctly Hill Country feel. For everyday shopping and services, residents use nearby Castroville and the west side of San Antonio, roughly 30 miles away.

Students in Mico attend the Medina Valley Independent School District, a public district based in nearby Castroville that serves much of Medina County. The district operates a full feeder system of elementary, middle, and high schools, including Medina Valley High School, and draws students from the lakeside communities and rural areas around Medina Lake. Higher education is accessible at community colleges and universities in the San Antonio area, within commuting distance of the community.

Mico is reached by Farm to Market Road 1283 and County Road 271, which connect the lakeside community to the surrounding Hill Country road network. Castroville and U.S. Highway 90 lie a short drive to the south, providing access to San Antonio, roughly 30 miles away. The community is automobile-dependent, with no public transit, and residents use the area's farm-to-market roads for commuting to work, school, and services in Castroville, Hondo, and the west side of San Antonio.

Medina Lake is the heart of recreation in Mico, with fishing for bass, catfish, and crappie, along with boating, water skiing, and swimming. Local marinas, boat ramps, and small lakeside bars and cafes serve the weekend and seasonal crowd. The surrounding Hill Country offers hunting, hiking, and scenic drives, and the lake's coves and shoreline provide quiet spots for picnicking and wildlife viewing. Medina Lake's fluctuating levels mean recreation shifts with the water, but the reservoir remains the community's defining amenity.