Lake Panasoffkee, FL Profile: Facts & Data

The primary coordinate point for Lake Panasoffkee is located at latitude 28.7558 and longitude -82.0948 in Sumter County. The formal boundaries for the Lake Panasoffkee Census Designated Place encompass a land area of 3.96 sq. miles and a water area of 0.25 sq. miles. Sumter County is in the Eastern time zone (GMT -5).

The Lake Panasoffkee Census Designated Place has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

Florida is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Lake Panasoffkee Census Designated Place is located within Bushnell-Center Hill CCD of Sumter County.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Lake Panasoffkee, FL Data & Demographics (As of July 1, 2023)

POPULATION
Total Population	4,156 (100%)
Population in Households	4,156 (100.0%)
Population in Families	3,154 (75.9%)
Population in Group Quarters¹	0
Population Density	967
Diversity Index²	39


INCOME
Median Household Income	$41,479
Average Household Income	$58,292
% of Income for Mortgage⁴	16%
Per Capita Income	$26,060
Wealth Index⁵	49
Socioeconomic Status Index⁶	Low (43.6)

HOUSING
Total HU (Housing Units)	2,466 (100%)
Owner Occupied HU	1,482 (60.1%)
Renter Occupied HU	376 (15.2%)
Vacant Housing Units	608 (24.7%)
Median Home Value	$109,454
Average Home Value	$175,557
Housing Affordability Index³	159

HOUSEHOLDS
Total Households	1,858
Average Household Size	2.24
Family Households	1,149
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Lake Panasoffkee, FL - Peer Comparisons by Rank and Percentile

The table below compares Lake Panasoffkee to the other 955 incorporated cities, towns and CDPs in Florida 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.

GROWTH RATE / YEAR	2020-2023	2023-2028
Population	0.63%	1.59%
Households	0.54%	1.80%
Families		1.73%
Median Household Income		4.11%
Per Capita Income		3.65%
Owner Occupied HU		2.13%

Variable Description	Rank	Percentile
Total Population	# 522	45th
Population Density	# 621	35th
Median Household Income	# 825	14th
Housing Affordability Index	# 895	94th
Per Capita Income	# 730	24th
Diversity Index	# 699	27th

Lake Panasoffkee, FL Profile: Facts & Data

Lake Panasoffkee, Florida - Basic Facts

Lake Panasoffkee, FL Data & Demographics (As of July 1, 2023)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lake Panasoffkee, FL - Peer Comparisons by Rank and Percentile

Lake Panasoffkee, FL - Most Popular Things to Do

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