Lake Panasoffkee, Florida Demographics & Population 2026
During the 2020–2024 ACS period, Lake Panasoffkee, Florida had a total population of 4,768, the 494th largest community in Florida, with a median household income of $44,531, which is 40% lower than the state average. The poverty rate is 30.4%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- Household income is 40% below the state average, indicating significant economic challenges.
- More than 1 in 4 residents live below the poverty line (30.4%), well above the national average of 12.4%.
Lake Panasoffkee Quick Facts
How Lake Panasoffkee Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 4,525 | 4,768 | +5.4% |
| Median household income | $46,002 | $44,531 | -3.2% |
| Median home value | $133,300 | $153,000 | +14.8% |
How Lake Panasoffkee Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 65 | National average: 61
Education
Educational Attainment (Adults 25+)
Lake Panasoffkee Rankings in Florida
Explore Florida Rankings
Other Cities in Sumter County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Wildwood | 17,608 | $76,552 | 12.8% | $451,600 |
| Bushnell | 3,187 | $52,717 | 13.4% | $67,600 |
| Webster | 1,574 | $66,250 | 25.0% | $272,100 |
| Center Hill | 1,304 | $68,375 | 11.0% | $228,000 |
| Coleman | 705 | $54,063 | 10.7% | $161,800 |
Cities Similar to Lake Panasoffkee
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Zephyrhills South | 5,008 | $42,454 | $49,800 | 11.4% | 13.8% |
| Moon Lake | 4,638 | $48,878 | N/A | 7.4% | 31.1% |
| Tice | 4,758 | $53,505 | $174,800 | 7.6% | 19.4% |
| Kenneth City | 5,012 | $49,347 | $241,200 | 17.3% | 13.8% |
| Fort Pierce South | 5,028 | $50,503 | $224,100 | 17.2% | 29.8% |
Population Overview
Lake Panasoffkee is a small community located in Florida, within Sumter County. The total population is 4,768. It ranks as the 494th most populous out of 955 Census-designated places in Florida.
Age Demographics
The median age in Lake Panasoffkee is 46.5 years. This is 9% higher than the state median of 42.6 years. 10.2% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Lake Panasoffkee is $44,531. This is 40% lower than the state median of $74,568. It is also 45% lower than the national median of $80,734. The poverty rate stands at 30.4%. This is 142% higher than the state poverty rate of 12.6%. With more than one in five residents living below the poverty line, economic hardship is a significant challenge for the community. The unemployment rate is 4.6%. This is 4% lower than the state rate of 4.8%. The median home value is $153,000. Housing costs are 57% lower than the state median of $359,000. The home-value-to-income ratio is 3.4x. 66.2% of occupied housing units are owner-occupied. This homeownership rate is 2% lower than the state average of 67.6%.
Race & Ethnicity
Lake Panasoffkee has a predominantly White (non-Hispanic) population, comprising 87.1% of all residents. Black or African American residents account for 5.5%. The White (non-Hispanic) population is significantly higher than the state average (87.1% vs 50.4%). The Black or African American population (5.5%) is well below the state average of 14.6%. The Hispanic or Latino population (5.2%) is well below the state average of 27.4%.
Education
10.5% of residents aged 25 and older hold a bachelor's degree or higher. This is 69% lower than the state rate of 34.2%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 85.4%.
Data Sources & Methodology
All demographic data for Lake Panasoffkee, Florida is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Florida state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 955 Census-designated places in Florida. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Lake Panasoffkee, Florida?
Lake Panasoffkee, Florida has a population of 4,768 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Lake Panasoffkee, FL?
The median household income in Lake Panasoffkee is $44,531, which is 45% lower than the national median of $80,734.
What is the poverty rate in Lake Panasoffkee, FL?
The poverty rate in Lake Panasoffkee is 30.4%. This means approximately 1,441 residents live below the federal poverty line.
What is the racial makeup of Lake Panasoffkee, Florida?
Lake Panasoffkee's population is 87.1% White, 5.5% Black, 5.2% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Lake Panasoffkee, FL?
The median home value in Lake Panasoffkee is $153,000. The home-value-to-income ratio is 3.4x.
How educated is Lake Panasoffkee, Florida?
10.5% of adults (25+) in Lake Panasoffkee hold a bachelor's degree or higher, and 3.2% hold a graduate or professional degree.