Lake Village, IN
Population 533 · Indiana
About Lake Village, IN
Lake Village is a small community located in Indiana with a population of 533 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 61.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Lake Village features a median home value of $152,700, which is 38% below the national median of $244,900. This positions Lake Village in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 299 total housing units, 71% are owner-occupied (213 units) and 29% are renter-occupied (86 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Village shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 27.0%, above the national average of 12.4%. Workers in Lake Village have an average one-way commute time of 40.5 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
22.1% 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 3.2% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Lake Village, IN
Compared to national averages, Lake Village has a median household income of $0 (100% below the national median of $75,149). Home values average $152,700, which is 38% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Lake Village's income is 100% below the state average of $69,330, and home values are 7% below the state median of $163,409.
Why Live in Lake Village, IN?
Lake Village offers affordable housing with a median home value of $152,700, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%.
Potential considerations include median household income ($0) 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 533 with a median age of 61.8 years. Compare Lake Village with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Lake Village
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Laketon | 532 | $78,750 | $196,700 | Compare |
| Wellsboro | 532 | $148,750 | $118,900 | Compare |
| Etna Green | 535 | $64,342 | $111,000 | Compare |
| Belleville | 536 | $71,484 | $219,200 | Compare |
| Lakewood | 530 | $107,574 | $269,400 | Compare |
| Burlington | 527 | $69,286 | $134,700 | Compare |
| Troy | 539 | $50,000 | $95,600 | Compare |
| Linden | 526 | $60,714 | $113,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
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, IN?
The population of Lake Village, IN is 533 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Lake Village?
The median household income in Lake Village, IN is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Lake Village?
The median home value in Lake Village, IN is $152,700, which is 38% 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, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lake Village?
The unemployment rate in Lake Village, IN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Village, IN a good place to live?
Lake Village offers a moderate cost of living, affordable housing, and a strong job market. With a population of 533 and a median age of 61.8, the city appeals to established professionals and retirees.
How educated is Lake Village, IN?
22.1% 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, IN: median home value is $152,700 (38% below national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is Infinityx, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Lake Village?
The poverty rate in Lake Village, IN is 27.0%, 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, IN?
Lake Village's population is 3.2% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.