Winona Lake, IN
Population 5,073 · Indiana
About Winona Lake, IN
Winona Lake is a small town located in Indiana with a population of 5,073 residents according to the latest US Census Bureau American Community Survey data. The median household income is $97,813 per year, which is 30% above the national median of $75,149. The median age of 28 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Winona Lake features a median home value of $242,400, which is 1% below the national median of $244,900. This positions Winona Lake in a moderately priced market relative to the rest of the country. Median monthly rent is $1,074, 8% below the national average of $1,163/month. Of the 1,969 total housing units, 66% are owner-occupied (1,121 units) and 34% are renter-occupied (589 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Winona Lake shows an unemployment rate of 1.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Winona Lake have an average one-way commute time of 14.2 minutes, one of the shorter commutes in the region.
Education & Demographics
50.8% of Winona Lake residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 12.5% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 1.3% Asian residents, with 6.6% of the population being foreign-born.
How Winona Lake Ranks in Indiana
Cost of Living in Winona Lake, IN
Compared to national averages, Winona Lake has a median household income of $97,813 (30% above the national median of $75,149). Home values average $242,400, which is 1% below the national median. Monthly rent at $1,074 is 8% below the US average of $1,163. Within Indiana, Winona Lake's income is 41% above the state average of $69,330, and home values are 48% above the state median of $163,409.
Why Live in Winona Lake, IN?
Winona Lake offers a strong local economy with a median household income of $97,813, well above the national average, and affordable housing with a median home value of $242,400, below the US average of $244,900, and rent that’s lower than the national average at $1,074/month. Additionally, the city features a strong job market with an unemployment rate of just 1.0%, and a well-educated community where 50.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.9%, better than the national average, and short commute times averaging just 14.2 minutes.
Winona Lake has a population of 5,073 with a median age of 28 years. Compare Winona Lake with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Winona Lake
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Fortville | 5,092 | $82,763 | $240,300 | Compare |
| Pendleton | 5,115 | $87,971 | $236,200 | Compare |
| Alexandria | 5,145 | $60,616 | $92,700 | Compare |
| Linton | 5,153 | $41,968 | $86,800 | Compare |
| Lawrenceburg | 5,155 | $52,778 | $191,400 | Compare |
| Highland | 5,188 | $95,696 | $216,800 | Compare |
| Porter | 5,208 | $74,155 | $259,700 | Compare |
| Winchester | 4,912 | $60,833 | $97,000 | 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 Winona Lake With Other Cities
Frequently Asked Questions about Winona Lake
What is the population of Winona Lake, IN?
The population of Winona Lake, IN is 5,073 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Winona Lake?
The median household income in Winona Lake, IN is $97,813 per year, which is 30% above the national median of $75,149.
What is the median home value in Winona Lake?
The median home value in Winona Lake, IN is $242,400, which is 1% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Winona Lake?
The median monthly rent in Winona Lake, IN is $1,074, which is 8% below the national average of $1,163/month.
What is the unemployment rate in Winona Lake?
The unemployment rate in Winona Lake, IN is 1.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Winona Lake, IN a good place to live?
Winona Lake offers above-average incomes, affordable housing, and a strong job market. With a population of 5,073 and a median age of 28, the city appeals to young professionals and families.
How educated is Winona Lake, IN?
50.8% of residents in Winona Lake aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Winona Lake?
Key cost-of-living indicators for Winona Lake, IN: median home value is $242,400 (1% below national), median rent is $1,074/month, and median household income is $97,813. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Winona Lake?
The poverty rate in Winona Lake, IN is 6.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Winona Lake, IN?
Winona Lake's population is 12.5% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 1.3% Asian, and 1.0% two or more races. 6.6% of residents are foreign-born.