Lake Point, UT
Population 2,938 · Utah
About Lake Point, UT
Lake Point is a small town located in Utah with a population of 2,938 residents according to the latest US Census Bureau American Community Survey data. The median household income is $133,175 per year, which is 77% above the national median of $75,149. The median age of 29 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 Lake Point features a median home value of $566,200, which is 131% above the national median of $244,900. This places Lake Point in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 817 total housing units, 81% are owner-occupied (665 units) and 19% are renter-occupied (152 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Point shows an unemployment rate of 0.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake Point have an average one-way commute time of 30.8 minutes.
Education & Demographics
32.2% of Lake Point residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 16.3% White, 11.3% Hispanic or Latino, 0.0% Black or African American, and 2.5% Asian residents, with 2.5% of the population being foreign-born.
How Lake Point Ranks in Utah
Cost of Living in Lake Point, UT
Compared to national averages, Lake Point has a median household income of $133,175 (77% above the national median of $75,149). Home values average $566,200, which is 131% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Utah, Lake Point's income is 50% above the state average of $88,715, and home values are 33% above the state median of $426,386.
Why Live in Lake Point, UT?
Lake Point offers a strong local economy with a median household income of $133,175, well above the national average, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.9%. Additionally, the city features a low poverty rate of 2.5%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $566,200. However, Lake Point’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake Point has a population of 2,938 with a median age of 29 years. Compare Lake Point with other cities to see how it stacks up, or explore all cities in Utah.
Similar Cities Near Lake Point
Cities in Utah with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Richmond | 2,971 | $103,047 | $348,700 | Compare |
| Parowan | 3,095 | $49,934 | $299,800 | Compare |
| Helper | 2,680 | $61,908 | $207,700 | Compare |
| Naples | 3,217 | $94,048 | $264,100 | Compare |
| Fillmore | 2,633 | $77,000 | $275,400 | Compare |
| Garland | 2,609 | $65,369 | $318,000 | Compare |
| Erda | 3,294 | $153,068 | $600,700 | Compare |
| Blanding | 3,303 | $63,333 | $225,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Utah
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake Point With Other Cities
Frequently Asked Questions about Lake Point
What is the population of Lake Point, UT?
The population of Lake Point, UT is 2,938 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Utah.
What is the median household income in Lake Point?
The median household income in Lake Point, UT is $133,175 per year, which is 77% above the national median of $75,149.
What is the median home value in Lake Point?
The median home value in Lake Point, UT is $566,200, which is 131% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Point?
The median monthly rent in Lake Point, UT is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Lake Point?
The unemployment rate in Lake Point, UT is 0.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake Point, UT a good place to live?
Lake Point offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,938 and a median age of 29, the city appeals to young professionals and families.
How educated is Lake Point, UT?
32.2% of residents in Lake Point 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 Point?
Key cost-of-living indicators for Lake Point, UT: median home value is $566,200 (131% above national), median rent is $0/month, and median household income is $133,175. The home-value-to-income ratio is 4.3x, a moderate figure by national standards.
What is the poverty rate in Lake Point?
The poverty rate in Lake Point, UT is 2.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Lake Point, UT?
Lake Point's population is 16.3% White, 11.3% Hispanic or Latino, 0.0% Black or African American, 2.5% Asian, and 0.0% two or more races. 2.5% of residents are foreign-born.