Balsam Lake, WI

Full City Profile · Wisconsin · Polk County County

3.3 /5.0
B Good
819 Population 367/sq mi density
$48,468 Median Income $33,205 per capita
$188,600 Home Value $430,207 Zillow
$1,063 Median Rent 33.1% income on rent
44°F Avg Temperature
B
Overall
3.3 / 5.0
Good overall score based on economy, affordability, safety and education
C+
Economy
2.8 / 5.0
$48,468 median income, 7.3% unemployment
A
Affordability
4.5 / 5.0
$188,600 home value, $1,063/mo rent
C+
Education
2.6 / 5.0
20.1% bachelor's degree or higher

Balsam Lake, WI

At a Glance

Median Income
$48,468
36% below
$33,205 per capita
Home Value
$188,600
33% below
Zillow: $430,207
Median Rent
$1,063/mo
9% below
33.1% of income on rent
Bachelor's Degree+
20.1%
40% below
88.1% high school+
Unemployment
7.3%
103% above
11.8% poverty rate
Obesity Rate
35.3%
10% above
15.0% smoking rate
Avg Temperature
44°F

How Balsam Lake Compares to the U.S. Average

Each bar shows Balsam Lake's value as a percentage of the national average (100% = U.S. avg)

Income
64%
Home Value
67%
Rent
91%
Poverty
95%
Bachelor's
60%
Unemployment
203%
Thin vertical line = U.S. national average (100%)

Is Balsam Lake a Good Place to Live?

B
3.3 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Balsam Lake residents earn a median household income of $48,468 , which is 36% below the national average of $75,149. Per capita income is $33,205. The unemployment rate stands at 7.3% (103% above the U.S. rate of 3.6%). 11.8% of residents live below the poverty line. The area is home to 1,311 business establishments, including 136 restaurants.

Housing & Cost of Living

The median home value in Balsam Lake is $188,600 , 33% below the national median of $281,900. Zillow estimates the typical home at $430,207. Median rent is $1,063/month, with 33.1% of renters spending more than 30% of income on housing. The cost of living index is 94.1 (100 = national average). The median home was built in 1977.

Education

20.1% of adults in Balsam Lake hold a bachelor's degree or higher (40% below the national average). 88.1% have completed high school. Local schools score 6.1/10 in standardized testing.

Climate & Weather

Balsam Lake has an average annual temperature of 44°F (7°C). Winters average 13°F in January while summers reach 70°F in July. Annual precipitation totals 32.9 inches.

Data Overview

People

Population819
Median Age50.6 yrs
Density367/mi²
Male / Female52% / 48%
Foreign Born0.4%
Veterans5.4%

Economy

C+
Median Income$48,468
Per Capita$33,205
Unemployment7.3%
Poverty11.8%
County GDP$2,185M
Avg Weekly Wage$919

Housing

A
Home Value$188,600
Rent$1,063
Ownership82.7%
Zillow$430,207
Housing Units612
Rent Burden33.1%

Health

Obesity35.3%
Diabetes9.3%
Smoking15.0%
Heart Disease5.3%
Premature Death7,642/100K

Climate

Avg Temp44°F
Rain32.9 in/yr
Elevation1,147 ft

Education

C+
Bachelor's+20.1%
High School+88.1%
Graduate+5.2%
School Score6.1/10

Community

2024 VoteR 65% / D 34%
Commute25 min
Broadband77.7%
Internet Speed123 Mbps
EV Stations2
Libraries10

Did You Know?

The median home in Balsam Lake was built in 1977.
The nearest airport is New Richmond Regional (22 miles).
The Gini coefficient (income inequality) is 0.401 (U.S. avg: 0.490).
Natural hazard risk is rated "Relatively Low" by FEMA.
22.8% of the population has a disability.
Average internet download speed is 123 Mbps.
There are 136 restaurants in the area.
The county recorded 6 fatal vehicle crashes.