Last updated: 2024 BLS data · Page refreshed:
Balsam Lake has a population of 754 with a median age of 55.9. Here is the racial and ethnic breakdown of the population:
| Demographic | Value |
|---|---|
| Total Population | 754 |
| Median Age | 55.9 |
| White | 92.6% |
| Black or African American | 2.0% |
| Asian | 1.7% |
| Hispanic or Latino | 2.7% |
| Other / Two or More Races | 1.0% |
The median household income in Balsam Lake is $52,011, which is 35.5% below the national median of $80,610. The per capita income is $38,537. The poverty rate is 11.2%.
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In Balsam Lake, 89.9% of residents age 25+ have a high school diploma or higher, and 17.7% hold a bachelor's degree or higher (5.5% with a graduate or professional degree).
| Education Level | % of Adults (25+) |
|---|---|
| High School Diploma or Higher | 89.9% |
| Bachelor's Degree or Higher | 17.7% |
| Graduate or Professional Degree | 5.5% |
The median home value in Balsam Lake is $210,200, below the national median of $303,400. The median monthly rent is $975. The homeownership rate is 80.7%.
| Housing Metric | Value |
|---|---|
| Median Home Value | $210,200 |
| Median Monthly Rent | $975 |
| Homeownership Rate | 80.7% |
| Vacancy Rate | 40.3% |
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