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The total population of Balsam Lake is estimated to be 834 with 455 males (54.56%) and 379 females (45.44%). There are 76 less females than males in Balsam Lake.
The median household income in Balsam Lake was $48,603 in 2021, which marked an an increase of 1,115(2.35%) from $47,488 in 2020. This income is 65.15% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Balsam Lake sees its highest median household income among householders in the age group of 45 to 64 years old, at $65,755. Overall, the median household income for the village of Balsam Lake stands at $48,603.
In Balsam Lake, the median income for all workers aged 15 years and older, regardless of work hours, was $36,481 for males and $30,245 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $54,270 for males and $46,574 for females.
In Balsam Lake, population is primarily represented by White households, reporting a median income of $48,529.
In 2022, the population of Balsam Lake was 923, a 0.76% increase year-by-year from 2021. Previously, in 2021, Balsam Lake's population was 916, a decline of 2.45% compared to a population of 939 in 2020.
The median age in Balsam Lake, WI is 39.3, as per 2021 ACS 5-Year Estimates. Of the total population, 13.81% were under the age of 15, 21.94% aged 15 to 29, 42.20% aged 30 to 64, 19.93% aged 65 to 84, and 2.12% were 85 years of age and older.
Racial distribution of Balsam Lake population: 93.54% are White, 3.45% are Black or African American, 2.45% are some other race and 0.56% are multiracial.