Lake Caroline, VA Profile: Facts & Data

The Lake Caroline Census Designated Place has a U2 Census Class Code which indicates a census designated place without an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Lake Caroline, VA Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	2,555 (100%)
Population in Households	2,555 (100.0%)
Population in Families	1,858 (72.7%)
Population in Group Quarters¹	0
Population Density	900
Diversity Index²	51


INCOME
Median Household Income	$74,928
Average Household Income	$105,673
% of Income for Mortgage⁴	25%
Per Capita Income	$41,814
Wealth Index⁵	104
Socioeconomic Status Index⁶	Moderate (52.5)

HOUSING
Total HU (Housing Units)	1,152 (100%)
Owner Occupied HU	877 (76.1%)
Renter Occupied HU	134 (11.6%)
Vacant Housing Units	141 (12.2%)
Median Home Value	$300,489
Average Home Value	$320,439
Housing Affordability Index³	101

HOUSEHOLDS
Total Households	1,011
Average Household Size	2.53
Family Households	690
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Lake Caroline, VA - Peer Comparisons by Rank and Percentile

The table below compares Lake Caroline to the other 688 incorporated cities, towns and CDPs in Virginia by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	0.41%	0.00%
Households	0.45%	0.12%
Families		-0.06%
Median Household Income		2.24%
Per Capita Income		3.29%
Owner Occupied HU		0.45%

Variable Description	Rank	Percentile
Total Population	# 255	63rd
Population Density	# 280	59th
Median Household Income	# 293	58th
Housing Affordability Index	# 427	62nd
Per Capita Income	# 254	63rd
Diversity Index	# 332	52nd

Lake Caroline, VA Profile: Facts & Data

Lake Caroline, Virginia - Basic Facts

Lake Caroline, VA Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Lake Caroline, VA - Peer Comparisons by Rank and Percentile

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