Living in Lake Panasoffkee, Florida
Cost of living, income, home prices, rent and demographics of Lake Panasoffkee · Census data 2020–2024
Lake Panasoffkee has 4,768 residents with a median age of 46.5. The median household income is $44,531 (40% lower than the Florida median), the median home value is $153,000, the median rent is $1,019/month.
Lake Panasoffkee at a glance
- Population
- 4,768
- Median age
- 46.5State: 42.6
- Median household income
- $44,531State: $74,568
- Median home value
- $153,000State: $359,000
- Median rent
- $1,019/moState: $1,669
- Homeowners
- 66.2%
- Bachelor's degree or higher
- 10.5%
- Average commute
- 28 min
Is Lake Panasoffkee a good place to live?
Pros: Home values 57% lower than the state median; an average commute of 28 minutes; unemployment of 4.6%.
Cons: Median household income 40% lower than the Florida median; a poverty rate of 30.5%.
The weather is best in February to April and November.
Cost of living in Lake Panasoffkee
Housing is the biggest part of the cost of living. In Lake Panasoffkee the median home value is $153,000, 54% lower than the U.S. median. Renters pay a median of $1,019 per month, which is 34.9% of household income. Homeowners with a mortgage pay $1,079 a month in housing costs.
Lake Panasoffkee median household income
The median household income in Lake Panasoffkee is $44,531 and the income per person is $26,682. 30.5% of residents live below the poverty line (Florida: 12.6%).
Housing in Lake Panasoffkee: homes for sale and rent
- Housing units
- 2,708
- Owner-occupied
- 66.2%
- Renter-occupied
- 33.8%
- Vacant
- 18.3%Includes seasonal homes
- Median year built
- 1981
- Average household size
- 2.16
Lake Panasoffkee demographics
- Population
- 4,768
- Median age
- 46.5
- Under 18
- 18.4%
- 65 and older
- 19.4%
- Households
- 2,212
- Foreign-born
- 0.9%
- Veterans
- 8.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Panasoffkee ›
Education in Lake Panasoffkee
10.5% of adults 25 and older in Lake Panasoffkee have a bachelor's degree or higher (Florida: 34.1%), and 3.2% have a graduate or professional degree.
Jobs and commute in Lake Panasoffkee
- Unemployment rate
- 4.6%State: 4.8%
- Average commute
- 28 minState: 28 min
- Work from home
- 7.7%
- Drive alone
- 85.5%
- Public transit
- 0%
- Walk to work
- 0.7%
- Homes with broadband
- 87.3%
Lake Panasoffkee vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Panasoffkee | 4,768 | $44,531 | $153,000 | $1,019 |
| Coleman | 705 | $54,063 | $161,800 | $957 |
| Bushnell | 3,187 | $52,717 | $67,600 | $745 |
| Wildwood | 17,608 | $76,552 | $451,600 | $1,519 |
| The Villages | 83,498 | $77,622 | $400,100 | $1,397 |
| Fruitland Park | 8,740 | $82,656 | $382,400 | $1,221 |
| Istachatta | 115 | $43,750 | — | — |
| Floral City | 5,437 | $62,025 | $232,000 | $617 |
| Webster | 1,574 | $66,250 | $272,100 | $731 |
More for people moving to Lake Panasoffkee
Lake Panasoffkee ZIP code ›Weather and climate ›Living in Lake Panasoffkee: FAQ
What is the median household income in Lake Panasoffkee, FL?
The median household income in Lake Panasoffkee is $44,531, 40% lower than the Florida median of $74,568 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lake Panasoffkee?
The median home value in Lake Panasoffkee is $153,000, compared with $359,000 in Florida.
How much is rent in Lake Panasoffkee?
The median gross rent in Lake Panasoffkee is $1,019 per month, about 34.9% of household income.
Is Lake Panasoffkee, FL a good place to live?
Pluses: home values 57% lower than the state median; an average commute of 28 minutes; unemployment of 4.6%. Minuses: median household income 40% lower than the Florida median; a poverty rate of 30.5%.
What is the median age in Lake Panasoffkee?
The median age in Lake Panasoffkee is 46.5 years (Florida: 42.6).
How long is the commute in Lake Panasoffkee?
The average commute to work in Lake Panasoffkee is 28 minutes; 7.7% of workers work from home.
What is the unemployment rate in Lake Panasoffkee?
The unemployment rate in Lake Panasoffkee is 4.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Panasoffkee?
10.5% of adults in Lake Panasoffkee have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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