Also See Balsam Lake, WI: ZIP Codes & Maps
The Village of Balsam Lake had a population of 956 as of July 1, 2023.
The primary coordinate point for Balsam Lake is located at latitude 45.4522 and longitude -92.4546 in Polk County. The formal boundaries for the Village of Balsam Lake encompass a land area of 2.17 sq. miles and a water area of 1.23 sq. miles. Polk County is in the Central time zone (GMT -6).
The Village of Balsam Lake has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
POPULATION | |
---|---|
Total Population | 956 (100%) |
Population in Households | 898 (93.9%) |
Population in Families | 657 (68.7%) |
Population in Group Quarters1 | 58 ( 6.1%) |
Population Density | 430 |
Diversity Index2 | 17 |
INCOME | |
Median Household Income | $71,885 |
Average Household Income | $98,541 |
% of Income for Mortgage4 | 24% |
Per Capita Income | $43,863 |
Wealth Index5 | 104 |
Socioeconomic Status Index6 | Moderate (50.9) |
HOUSING | |
---|---|
Total HU (Housing Units) | 701 (100%) |
Owner Occupied HU | 351 (50.1%) |
Renter Occupied HU | 74 (10.6%) |
Vacant Housing Units | 276 (39.4%) |
Median Home Value | $291,279 |
Average Home Value | $347,293 |
Housing Affordability Index3 | 93 |
HOUSEHOLDS | |
Total Households | 425 |
Average Household Size | 2.11 |
Family Households | 246 |
Average Family Size | 3.00 |
GROWTH RATE / YEAR |
2020-2023 | 2023-2028 |
---|---|---|
Population | 0.72% | -0.53% |
Households | -0.50% | -0.38% |
Families | -0.16% | |
Median Household Income | 3.20% | |
Per Capita Income | 2.86% | |
Owner Occupied HU | 0.06% |
The table below compares Balsam Lake to the other 807 incorporated cities, towns and CDPs in Wisconsin by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
Variable Description | Rank | Percentile |
---|---|---|
Total Population | # 405 | 50th |
Population Density | # 509 | 37th |
Median Household Income | # 332 | 59th |
Housing Affordability Index | # 186 | 23rd |
Per Capita Income | # 206 | 75th |
Diversity Index | # 510 | 37th |
Additional comparisons and rankings can be made with a VERY EASY TO USE Wisconsin Census Data Comparison Tool.
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