Lake Panasoffkee is a city located in Sumter County Florida. With a 2020 population of 4,176, it is the 502nd largest city in Florida and the 7381st largest city in the United States. Lake Panasoffkee is currently growing at a rate of 1.26% annually and its population has increased by 2.55% since the most recent census, which recorded a population of 4,072 in 2020. Spanning over 4 miles, Lake Panasoffkee has a population density of 1,053 people per square mile.
The average household income in Lake Panasoffkee is $54,150 with a poverty rate of 23.51%. The median rental costs in recent years comes to $814 per month, and the median house value is $85,800. The median age in Lake Panasoffkee is 57.6 years, 56.6 years for males, and 58.3 years for females.
According to the most recent ACS, the racial composition of Lake Panasoffkeewas:
Rate of Home Ownership
Average Family Size
Average Household Size
The highest rate of high school graduation is among native american people with a rate of 100.00%.
The highest rate of bachelors degrees is among asian people with a rate of 32.35%.
95.88% of Lake Panasoffkee residents speak only English, while 4.12% speak other languages. The non-English language spoken by the largest group is Other Indo-European, which is spoken by 2.14% of the population.
Overall Poverty Rate
Male Poverty Rate
Female Poverty Rate
The race most likely to be in poverty in Lake Panasoffkee is Black, with 100.00% below the poverty level.
The race least likely to be in poverty in Lake Panasoffkee is Hispanic, with 2.88% below the poverty level.
The poverty rate among those that worked full-time for the past 12 months was 11.96%. Among those working part-time, it was 14.38%, and for those that did not work, the poverty rate was 24.19%.
Number of Veterans
Veteran Poverty Rate
Veteran Disability Rate
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Non citizens include legal permanent residents (green card holders), international students, temporary workers, humanitarian migrants, and illegal immigrants.
Born in Lake Panasoffkee
97.31% of Lake Panasoffkee residents were born in the United States, with 45.34% having been born in Florida. 0.15% of residents are not US citizens. Of those not born in the United States, the largest percentage are from Europe.