Lake Caroline, VA
Population 2,708 · Virginia
About Lake Caroline, VA
Lake Caroline is a small town located in Virginia with a population of 2,708 residents according to the latest US Census Bureau American Community Survey data. The median household income is $88,222 per year, which is 17% above the national median of $75,149. The median age of 30.4 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 Caroline features a median home value of $291,300, which is 19% above the national median of $244,900. This positions Lake Caroline in a moderately priced market relative to the rest of the country. Median monthly rent is $1,634, 40% above the national average of $1,163/month. Of the 1,210 total housing units, 80% are owner-occupied (816 units) and 20% are renter-occupied (199 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake Caroline 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 21.4%, above the national average of 12.4%. Workers in Lake Caroline have an average one-way commute time of 50.7 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
31.6% of Lake Caroline 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 0.0% White, 1.4% Hispanic or Latino, 3.3% Black or African American, and 14.2% Asian residents, with 10.1% of the population being foreign-born.
Cost of Living in Lake Caroline, VA
Compared to national averages, Lake Caroline has a median household income of $88,222 (17% above the national median of $75,149). Home values average $291,300, which is 19% above the national median. Monthly rent at $1,634 is 40% above the US average of $1,163. Within Virginia, Lake Caroline's income is 0% above the state average of $87,957, and home values are 11% below the state median of $327,514.
Why Live in Lake Caroline, VA?
Lake Caroline offers a strong local economy with a median household income of $88,222, well above the national average, and a strong job market with an unemployment rate of just 0.0%.
Lake Caroline has a population of 2,708 with a median age of 30.4 years. Compare Lake Caroline with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Lake Caroline
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Lovettsville | 2,697 | $141,042 | $526,600 | Compare |
| Dublin | 2,671 | $61,635 | $166,700 | Compare |
| Sully Square | 2,668 | $210,746 | $709,400 | Compare |
| Shawneeland | 2,653 | $98,167 | $238,500 | Compare |
| Waverly | 2,629 | $71,154 | $135,300 | Compare |
| Crewe | 2,795 | $60,214 | $135,800 | Compare |
| Windsor | 2,808 | $65,321 | $248,200 | Compare |
| Ravensworth | 2,566 | $163,281 | $668,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Virginia
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Lake Caroline With Other Cities
Frequently Asked Questions about Lake Caroline
What is the population of Lake Caroline, VA?
The population of Lake Caroline, VA is 2,708 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Virginia.
What is the median household income in Lake Caroline?
The median household income in Lake Caroline, VA is $88,222 per year, which is 17% above the national median of $75,149.
What is the median home value in Lake Caroline?
The median home value in Lake Caroline, VA is $291,300, which is 19% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake Caroline?
The median monthly rent in Lake Caroline, VA is $1,634, which is 40% above the national average of $1,163/month.
What is the unemployment rate in Lake Caroline?
The unemployment rate in Lake Caroline, VA 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 Caroline, VA a good place to live?
Lake Caroline offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,708 and a median age of 30.4, the city appeals to young professionals and families.
How educated is Lake Caroline, VA?
31.6% of residents in Lake Caroline 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 Caroline?
Key cost-of-living indicators for Lake Caroline, VA: median home value is $291,300 (19% above national), median rent is $1,634/month, and median household income is $88,222. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake Caroline?
The poverty rate in Lake Caroline, VA is 21.4%, 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 Caroline, VA?
Lake Caroline's population is 0.0% White, 1.4% Hispanic or Latino, 3.3% Black or African American, 14.2% Asian, and 20.9% two or more races. 10.1% of residents are foreign-born.