Lake Wales city, Florida Demographics & Population 2026

Population Overview

Lake Wales city is a small city located in Florida. The total population is 16,365. It ranks as the 242nd most populous out of 953 cities and towns in Florida.

Age Demographics

The median age in Lake Wales city is 41.1 years. This is 4% lower than the state median of 42.6 years. 12.1% 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 Wales city is $55,799. This is 22% lower than the state median of $71,711. Compared to the national median of $78,538, household income here is 29% lower. The poverty rate stands at 24.4%. This is 93% 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 6.3%. This is 30% higher than the state rate of 4.8%. The median home value is $225,900. Housing costs are 30% lower than the state median of $325,000. The home-value-to-income ratio is 4.0x. 61.0% of occupied housing units are owner-occupied. This homeownership rate is 9% lower than the state average of 67.3%.

Race & Ethnicity

The largest racial or ethnic group in Lake Wales city is White (non-Hispanic), making up 47.6% of the population. Hispanic or Latino residents account for 30.7%. The Asian population (0.7%) is well below the state average of 2.8%.

Education

22.0% of residents aged 25 and older hold a bachelor's degree or higher. This is 34% lower than the state rate of 33.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 87.5%.

Data Sources & Methodology

All demographic data for Lake Wales city, Florida is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Florida state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 953 Census-designated places in Florida. For official data, visit data.census.gov.