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The total population of Lake Wales is estimated to be 16,455 with 7,922 males (48.14%) and 8,533 females (51.86%). There are 611 more females than males in Lake Wales.
The median household income in Lake Wales was $53,209 in 2021, which marked an a decrease of 1,346(2.47%) from $54,555 in 2020. This income is 71.32% 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, Lake Wales sees its highest median household income among householders in the age group of 45 to 64 years old, at $58,417. Overall, the median household income for the city of Lake Wales stands at $53,209.
In Lake Wales, the median income for all workers aged 15 years and older, regardless of work hours, was $34,605 for males and $25,288 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $43,412 for males and $39,896 for females.
In Lake Wales, there are just three different racial groups among households. Among these, Two or More Races households report a median household income of $74,421, followed by White households at $56,588, and Black or African American households with a median household income of $48,448.
In 2022, the population of Lake Wales was 16,774, a 0.55% increase year-by-year from 2021. Previously, in 2021, Lake Wales's population was 16,683, an increase of 0.70% compared to a population of 16,567 in 2020.
The median age in Lake Wales, FL is 45.4, as per 2021 ACS 5-Year Estimates. Of the total population, 17.26% were under the age of 15, 15.45% aged 15 to 29, 40.34% aged 30 to 64, 24.14% aged 65 to 84, and 2.81% were 85 years of age and older.
Racial distribution of Lake Wales population: 57.86% are White, 20.18% are Black or African American, 0.32% are American Indian and Alaska Native, 0.53% are Asian, 0.06% are Native Hawaiian and other Pacific Islander, 8.30% are some other race and 12.75% are multiracial.