Lake of the Woods, VA
Population 8,165 · Virginia
About Lake of the Woods, VA
Lake of the Woods is a small town located in Virginia with a population of 8,165 residents according to the latest US Census Bureau American Community Survey data. The median household income is $112,917 per year, which is 50% above the national median of $75,149. The median age of 51.8 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 of the Woods features a median home value of $377,500, which is 54% above the national median of $244,900. This places Lake of the Woods in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $1,690, 45% above the national average of $1,163/month. Of the 3,825 total housing units, 94% are owner-occupied (3,368 units) and 6% are renter-occupied (204 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Lake of the Woods shows an unemployment rate of 2.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Lake of the Woods have an average one-way commute time of 46.1 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
45.2% of Lake of the Woods 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 0.0% White, 2.8% Hispanic or Latino, 2.3% Black or African American, and 5.6% Asian residents, with 6.7% of the population being foreign-born.
Cost of Living in Lake of the Woods, VA
Compared to national averages, Lake of the Woods has a median household income of $112,917 (50% above the national median of $75,149). Home values average $377,500, which is 54% above the national median. Monthly rent at $1,690 is 45% above the US average of $1,163. Within Virginia, Lake of the Woods's income is 28% above the state average of $87,957, and home values are 15% above the state median of $327,514.
Why Live in Lake of the Woods, VA?
Lake of the Woods offers a strong local economy with a median household income of $112,917, well above the national average, and a strong job market with an unemployment rate of just 2.9%, and a well-educated community where 45.2% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 4.8%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $377,500. However, Lake of the Woods’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Lake of the Woods has a population of 8,165 with a median age of 51.8 years. Compare Lake of the Woods with other cities to see how it stacks up, or explore all cities in Virginia.
Similar Cities Near Lake of the Woods
Cities in Virginia with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Franklin | 8,212 | $65,125 | $227,200 | Compare |
| Fort Belvoir | 8,107 | $101,237 | $244,400 | Compare |
| Wytheville | 8,224 | $43,283 | $193,000 | Compare |
| Vinton | 8,038 | $64,643 | $179,400 | Compare |
| Fort Lee | 8,318 | $81,105 | $0 | Compare |
| Abingdon | 8,332 | $54,976 | $217,700 | Compare |
| Greenbriar | 7,989 | $134,284 | $627,600 | Compare |
| Dumbarton | 8,407 | $59,085 | $274,700 | 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 of the Woods With Other Cities
Frequently Asked Questions about Lake of the Woods
What is the population of Lake of the Woods, VA?
The population of Lake of the Woods, VA is 8,165 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 of the Woods?
The median household income in Lake of the Woods, VA is $112,917 per year, which is 50% above the national median of $75,149.
What is the median home value in Lake of the Woods?
The median home value in Lake of the Woods, VA is $377,500, which is 54% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Lake of the Woods?
The median monthly rent in Lake of the Woods, VA is $1,690, which is 45% above the national average of $1,163/month.
What is the unemployment rate in Lake of the Woods?
The unemployment rate in Lake of the Woods, VA is 2.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Lake of the Woods, VA a good place to live?
Lake of the Woods offers above-average incomes, a competitive housing market, and a strong job market. With a population of 8,165 and a median age of 51.8, the city appeals to established professionals and retirees.
How educated is Lake of the Woods, VA?
45.2% of residents in Lake of the Woods 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 Lake of the Woods?
Key cost-of-living indicators for Lake of the Woods, VA: median home value is $377,500 (54% above national), median rent is $1,690/month, and median household income is $112,917. The home-value-to-income ratio is 3.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Lake of the Woods?
The poverty rate in Lake of the Woods, VA is 4.8%, 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 of the Woods, VA?
Lake of the Woods's population is 0.0% White, 2.8% Hispanic or Latino, 2.3% Black or African American, 5.6% Asian, and 6.9% two or more races. 6.7% of residents are foreign-born.