Lake Village, AR
Population 2,280 · Arkansas
About Lake Village, AR
Lake Village is a small town located in Arkansas with a population of 2,280 residents according to the latest US Census Bureau American Community Survey data. The median household income is $44,803 per year, which is 40% below the national median of $75,149. The median age of 36.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Lake Village features a median home value of $120,200, which is 51% below the national median of $244,900. This makes Lake Village one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $850, 27% below the national average of $1,163/month. Of the 1,104 total housing units, 57% are owner-occupied (511 units) and 43% are renter-occupied (383 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Lake Village shows an unemployment rate of 7.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 18.0%, above the national average of 12.4%. Workers in Lake Village have an average one-way commute time of 14.9 minutes, one of the shorter commutes in the region.
Education & Demographics
21.4% of Lake Village residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 13.0% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 0.5% Asian residents, with 5.9% of the population being foreign-born.
Cost of Living in Lake Village, AR
Compared to national averages, Lake Village has a median household income of $44,803 (40% below the national median of $75,149). Home values average $120,200, which is 51% below the national median. Monthly rent at $850 is 27% below the US average of $1,163. Within Arkansas, Lake Village's income is 14% below the state average of $52,241, and home values are 4% below the state median of $125,457.
Why Live in Lake Village, AR?
Lake Village offers affordable housing with a median home value of $120,200, below the US average of $244,900, and rent that’s lower than the national average at $850/month, and short commute times averaging just 14.9 minutes.
Potential considerations include median household income ($44,803) that falls below the national average. However, Lake Village’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Village has a population of 2,280 with a median age of 36.6 years. Compare Lake Village with other cities to see how it stacks up, or explore all cities in Arkansas.
Similar Cities Near Lake Village
Cities in Arkansas with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Eureka Springs | 2,269 | $41,821 | $246,900 | Compare |
| Fairfield Bay | 2,247 | $54,735 | $157,300 | Compare |
| Marked Tree | 2,235 | $45,197 | $85,700 | Compare |
| Star City | 2,234 | $52,039 | $118,500 | Compare |
| Melbourne | 2,227 | $34,303 | $203,000 | Compare |
| Gassville | 2,216 | $47,404 | $126,600 | Compare |
| Prairie Creek | 2,367 | $94,457 | $360,200 | Compare |
| Bay | 2,369 | $58,000 | $109,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Arkansas
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake Village With Other Cities
Frequently Asked Questions about Lake Village
What is the population of Lake Village, AR?
The population of Lake Village, AR is 2,280 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Arkansas.
What is the median household income in Lake Village?
The median household income in Lake Village, AR is $44,803 per year, which is 40% below the national median of $75,149.
What is the median home value in Lake Village?
The median home value in Lake Village, AR is $120,200, which is 51% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Village?
The median monthly rent in Lake Village, AR is $850, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Lake Village?
The unemployment rate in Lake Village, AR is 7.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Lake Village, AR a good place to live?
Lake Village offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 2,280 and a median age of 36.6, the city appeals to a broad range of residents.
How educated is Lake Village, AR?
21.4% of residents in Lake Village aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Lake Village?
Key cost-of-living indicators for Lake Village, AR: median home value is $120,200 (51% below national), median rent is $850/month, and median household income is $44,803. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Village?
The poverty rate in Lake Village, AR is 18.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Lake Village, AR?
Lake Village's population is 13.0% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 0.5% Asian, and 50.4% two or more races. 5.9% of residents are foreign-born.