Wood Lake, NE Profile: Facts & Data

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Wood Lake, Nebraska - Basic Facts

The Village of Wood Lake had a population of 44 as of July 1, 2022. Wood Lake ranks in the lower quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Nebraska. See peer rankings below.

The primary coordinate point for Wood Lake is located at latitude 42.6386 and longitude -100.2382 in Cherry County. The formal boundaries for the Village of Wood Lake encompass a land area of 0.32 sq. miles and a water area of 0.01 sq. miles. Cherry County is in the Central time zone (GMT -6). The elevation is 2,694 feet.

The Village of Wood Lake has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Wood Lake is located within Wood Lake Election Precinct, a minor civil division (MCD) of Cherry County.

Alternate Unofficial Names for Wood Lake: Cottonwood Lake.

Jump to... (On This Page!)
  1. Wood Lake 2022 Demographic Data
  2. Growth Rates for Wood Lake (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Nebraska Research Tools (Easy Tools & Current Data)
  3. Nebraska Data Comparison Tool - 2022 Demographics
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Wood Lake, NE Data & Demographics (As of July 1, 2022)

POPULATION

Total Population 44 (100%)
Population in Households 44 (100.0%)
Population in Families 36 (81.8%)
Population in Group Quarters1 0
Population Density 139
Diversity Index2 24
 
 

INCOME

Median Household Income $62,248
Average Household Income $96,797
% of Income for Mortgage4 0%
Per Capita Income $42,135
Wealth Index5 77
 

HOUSING

Total HU (Housing Units) 33 (100%)
Owner Occupied HU 10 (30.3%)
Renter Occupied HU 10 (30.3%)
Vacant Housing Units 14 (42.4%)
Median Home Value $175,000
Average Home Value $387,500
Housing Affordability Index3 0
 

HOUSEHOLDS

Total Households 19
Average Household Size 2.32
Family Households 13
Average Family Size 3.00
NOTES
  1. 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.
  2. 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.
  3. 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.
  4. 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).
  5. 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.

GROWTH RATE / YEAR

2020-2022 2022-2027
Population -1.96% -0.93%
Households -2.25% 0.00%
Families   -1.59%
Median Household Income   2.21%
Per Capita Income   3.30%
Owner Occupied HU   0.00%

Wood Lake, NE - Peer Comparisons by Rank and Percentile

The table below compares Wood Lake to the other 590 incorporated cities, towns and CDPs in Nebraska by rank and percentile using July 1, 2022 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.

Variable Description Rank Percentile
Total Population # 529 11th
Population Density # 534 10th
Median Household Income # 316 46th
Housing Affordability Index # 34 6th
Per Capita Income # 81 86th
Diversity Index # 157 74th

Additional comparisons and rankings can be made with a VERY EASY TO USE Nebraska Census Data Comparison Tool.

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