Canal Point, FL Profile: Facts & Data

The Canal Point CDP⁽¹⁾ had a population of 350 as of July 1, 2022. Canal Point ranks in the lower quartile for Population Density and the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Florida. See peer rankings below.

The primary coordinate point for Canal Point is located at latitude 26.8592 and longitude -80.6337 in Palm Beach County. The formal boundaries for the Canal Point Census Designated Place encompass a land area of 1.38 sq. miles and a water area of 0 sq. miles. Palm Beach County is in the Eastern time zone (GMT -5). The elevation is 16 feet.

The Canal Point 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 Canal Point Census Designated Place is located within Belle Glade-Pahokee CCD of Palm Beach 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.

Canal Point, FL Data & Demographics (As of July 1, 2022)

POPULATION
Total Population	350 (100%)
Population in Households	269 (76.9%)
Population in Families	230 (65.7%)
Population in Group Quarters¹	81 (23.1%)
Population Density	252
Diversity Index²	86


INCOME
Median Household Income	$42,964
Average Household Income	$74,708
% of Income for Mortgage⁴	12%
Per Capita Income	$19,649
Wealth Index⁵	58

HOUSING
Total HU (Housing Units)	160 (100%)
Owner Occupied HU	77 (48.1%)
Renter Occupied HU	52 (32.5%)
Vacant Housing Units	31 (19.4%)
Median Home Value	$93,478
Average Home Value	$126,974
Housing Affordability Index³	235

HOUSEHOLDS
Total Households	129
Average Household Size	2.09
Family Households	92
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.

Canal Point, FL - Peer Comparisons by Rank and Percentile

The table below compares Canal Point to the other 954 incorporated cities, towns and CDPs in Florida by rank and percentile using July 1, 2022 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	2020-2022	2022-2027
Population	0.77%	0.45%
Households	0.70%	0.61%
Families		0.64%
Median Household Income		2.55%
Per Capita Income		4.03%
Owner Occupied HU		0.77%

Variable Description	Rank	Percentile
Total Population	# 881	8th
Population Density	# 839	12th
Median Household Income	# 820	14th
Housing Affordability Index	# 906	95th
Per Capita Income	# 874	8th
Diversity Index	# 44	96th

Canal Point, FL Profile: Facts & Data

Canal Point, Florida - Basic Facts

Canal Point, FL Data & Demographics (As of July 1, 2022)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Canal Point, FL - Peer Comparisons by Rank and Percentile

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