Muleshoe, Texas 2017 Population Estimate â 5,419 The Texas Water Development Board projects the Muleshoe 2015 population as 5,185 people and the 2020 population as 5,769. If we assume that the population changes linearly between 2015 and 2020, then the Muleshoe 2017 population would be 5,419. Note: this value is a projection, not a count. The 2010 Decennial Census provides the most recent count of the Muleshoe population as 5,158 people. And the US Census Bureauâs 2016 Population Estimates Program provides a population estimate for Muleshoe as 5,158 people.