Lake Panasoffkee, FL

Full City Profile · Florida · Sumter County County

3.1 /5.0
B Good
4,525 Population 1,052/sq mi density
$46,002 Median Income $28,837 per capita
$133,300 Home Value $209,055 Zillow
$962 Median Rent 35.1% income on rent
70°F Avg Temperature
B
Overall
3.1 / 5.0
Good overall score based on economy, affordability, safety and education
C+
Economy
2.5 / 5.0
$46,002 median income, 5.4% unemployment
A+
Affordability
5.0 / 5.0
$133,300 home value, $962/mo rent
D
Education
1.8 / 5.0
9.7% bachelor's degree or higher

Lake Panasoffkee, FL

At a Glance

Median Income
$46,002
39% below
$28,837 per capita
Home Value
$133,300
53% below
Zillow: $209,055
Median Rent
$962/mo
17% below
35.1% of income on rent
Bachelor's Degree+
9.7%
71% below
83.3% high school+
Unemployment
5.4%
50% above
23.2% poverty rate
Obesity Rate
35.3%
10% above
18.9% smoking rate
Avg Temperature
70°F

How Lake Panasoffkee Compares to the U.S. Average

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

Income
61%
Home Value
47%
Rent
83%
Poverty
187%
Bachelor's
29%
Unemployment
150%
Thin vertical line = U.S. national average (100%)

Is Lake Panasoffkee a Good Place to Live?

B
3.1 / 5.0 - Good
Based on economy, affordability, safety, and education metrics compared to national averages.

Economy & Jobs

Lake Panasoffkee residents earn a median household income of $46,002 , which is 39% below the national average of $75,149. Per capita income is $28,837. The unemployment rate stands at 5.4% (50% above the U.S. rate of 3.6%). 23.2% of residents live below the poverty line. The area is home to 2,697 business establishments, including 191 restaurants.

Housing & Cost of Living

The median home value in Lake Panasoffkee is $133,300 , 53% below the national median of $281,900. Zillow estimates the typical home at $209,055. Median rent is $962/month, with 35.1% of renters spending more than 30% of income on housing. The cost of living index is 103.4 (100 = national average). The median home was built in 1983.

Education

9.7% of adults in Lake Panasoffkee hold a bachelor's degree or higher (71% below the national average). 83.3% have completed high school. Local schools score 6.2/10 in standardized testing.

Climate & Weather

Lake Panasoffkee has an average annual temperature of 70°F (21°C). Winters average 56°F in January while summers reach 80°F in July. Annual precipitation totals 52.4 inches.

Data Overview

People

Population4,525
Median Age48.9 yrs
Density1,052/mi²
Male / Female47% / 53%
Foreign Born0.6%
Veterans10.8%

Economy

C+
Median Income$46,002
Per Capita$28,837
Unemployment5.4%
Poverty23.2%
County GDP$7,559M
Avg Weekly Wage$1,113

Housing

A+
Home Value$133,300
Rent$962
Ownership68.6%
Zillow$209,055
Housing Units2,581
Rent Burden35.1%

Health

Obesity35.3%
Diabetes11.1%
Smoking18.9%
Heart Disease6.8%
Premature Death10,415/100K

Climate

Avg Temp70°F
Rain52.4 in/yr
Elevation48 ft

Education

D
Bachelor's+9.7%
High School+83.3%
Graduate+2.7%
School Score6.2/10

Community

2024 VoteR 69% / D 31%
Commute29 min
Broadband86.1%
Internet Speed153 Mbps
EV Stations1
Libraries5

Did You Know?

The median home in Lake Panasoffkee was built in 1983.
The nearest airport is Leesburg International (19 miles).
The Gini coefficient (income inequality) is 0.423 (U.S. avg: 0.490).
Natural hazard risk is rated "Relatively Moderate" by FEMA.
24.4% of the population has a disability.
Average internet download speed is 153 Mbps.
There are 191 restaurants in the area.
The county recorded 33 fatal vehicle crashes.