Everything You Should Know Before Moving to Lake Panasoffkee, FL
Considering Lake Panasoffkee, FL for your next home? This close-knit community of about 4,500 offers an affordable cost of living, with median home values around $165,000 and average rents near $1,050. Residents enjoy a sunny, subtropical climate, a relaxed pace, and easy access to lakes and nature. Crime rates are moderate, commutes average 25 minutes, and local schools provide solid educational support. With a high owner-occupancy rate and convenient healthcare nearby, Lake Panasoffkee is a great spot for peaceful Florida living.
Demographics - Lake Panasoffkee, FL
Demographics - Lake Panasoffkee, FL
Lake Panasoffkee is a small, close-knit community of about 4,500 residents, with a median age of 54, reflecting a mature population. The area is predominantly White, with a balanced gender ratio and a modest percentage of non-English speakers, making it an inviting and friendly place for newcomers. Its moderate population density supports a peaceful, spacious lifestyle.
Population:
4,500
Density:
750 per sq mi
Median Age:
54.3
Gender Ratio:
100 males per 100 females
Non-English Speakers Percentage:
6.5%
Ethnic Composition
White:
88.2%
Black:
3.7%
Asian:
0.8%
Others:
7.3%
Cost Of Living
What is the average cost of living in Lake Panasoffkee, FL?
Living in Lake Panasoffkee is affordable compared to many other Florida towns, with a median home value of $165,000 and average rents around $1,050. The cost of living index is below the national average, and residents benefit from Florida’s lack of state income tax. Utilities and groceries are reasonably priced, supporting a comfortable lifestyle for families and retirees alike.
Median House Value:
$165,000
Gross Rent:
$1,050
Monthly Electricity Charges:
$140
Auto Insurance:
$2,050
House Owner Cost With Mortgage:
$1,050
House Owner Cost Without Mortgage:
$385
State Taxes:
Low:
0%
|
High:
0%
Cost Of Living Index:
87.5
Grocery:
97.3
Housing:
62.1
Utilities:
103.9
Transportation:
97.7
Health Care:
98.4
Miscellaneous:
98.0
Crime
Is Lake Panasoffkee, FL a safe place to live?
Lake Panasoffkee has a moderate overall crime rate, with a low violent crime rate of 210 incidents per 100,000 people, suggesting a generally safe environment. Property crime is more common, with a 1 in 68 chance, so residents should remain vigilant. The area’s safety profile is typical for small Florida communities, offering peace of mind for most households.
Violent Crimes Per 100k:
210
Property Crimes Per 100k:
1,475
Crime Index:
1,685
Chance Of Violent Crime:
1 in 476
Chance Of Property Crime:
1 in 68
Weather
What is the weather like in Lake Panasoffkee, FL year-round?
Residents enjoy a warm, subtropical climate with mild winters averaging highs in the low 70s and hot summers reaching into the low 90s. With 63% sunny days and over 51 inches of annual rainfall, outdoor activities and lake recreation are popular year-round. The area's pleasant weather is ideal for those seeking sunshine and a relaxed pace of life.
Winter
Min:
45°F
Max:
71°F
Spring
Min:
57°F
Max:
83°F
Summer
Min:
71°F
Max:
92°F
Fall
Min:
61°F
Max:
85°F
Average Rainfall Inches:
51.6 inches
Sunny Days Percentage:
63%
Neighbors
Lake Panasoffkee’s community features modest incomes, with a median household income of $41,000 and a poverty rate of about 19%. Most residents commute around 25 minutes for work, and public transportation use is minimal. The neighborhood is friendly and welcoming, with a strong sense of local connection.
Median Income:
$28,500
Household Income:
$41,000
Family Income:
$49,000
Per Capita Income:
$22,000
Income Male:
$29,000
Income Female:
$23,000
Poverty Rate:
19.1%
Non English Speakers:
6.5%
Rent:
$1,050
Unemployment Rate:
4.3%
Public Transport Usage:
0.3%
Commute Time:
25.2 minutes
Education
High School or Higher:
79.2%
Bachelors or More:
10.8%
Education
How are the schools in Lake Panasoffkee, FL?
Lake Panasoffkee offers quality educational support through its local elementary school, with a favorable student-teacher ratio and dedicated staff. While there are no private schools in town, families have access to nearby colleges such as Lake–Sumter State College and the College of Central Florida. The area’s educational resources support lifelong learning for all ages.
Public Schools
Name:
Lake Panasoffkee Elementary School
Street:
790 CR 482N
Phone:
352-793-2828
Students:
470
Student Teacher Ratio:
14.2
Colleges
Name:
Lake–Sumter State College
City:
Leesburg
State:
FL
Distance:
20 miles
Students:
4,600
Name:
College of Central Florida
City:
Ocala
State:
FL
Distance:
36 miles
Students:
10,000
Healthcare
Healthcare access is convenient, with major hospitals such as UF Health The Villages Hospital and AdventHealth Ocala within driving distance. The area has a good health insurance coverage rate of 86% and an adequate number of physicians for its size. Residents benefit from reliable emergency and general medical services close to home.
Major Hospitals
Name:
UF Health The Villages® Hospital
Address:
1451 El Camino Real, The Villages, FL 32159
Phone:
(352) 751-8000
Type:
General & Surgical
Emergency Services:
Yes
Name:
AdventHealth Ocala
Address:
1500 SW 1st Ave, Ocala, FL 34471
Phone:
(352) 351-7200
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
1.7
Health Insurance Coverage:
86.1%
Health Care Index:
80.2
Housing Market
What is the housing market like in Lake Panasoffkee, FL?
Lake Panasoffkee's housing market is attractive for buyers and renters, with a median home price of $165,000 and average rent for a two-bedroom at $1,050. Owner occupancy is high at nearly 80%, reflecting a stable, invested community. Home values have appreciated over 6% in the past year, making it a solid option for long-term living.
Median Home Price:
$165,000
Average Rent For 2 Bedroom:
$1,050
Owner Occupied Rate:
79.4%
Rental Vacancy Rate:
11.2%
Home Appreciation Rate (1yr):
6.4%
New Construction Rate:
0.3%
Foreclosure Rate:
0.8%
DMV Information
DMV services are provided by the Florida Department of Highway Safety and Motor Vehicles, with the nearest office conveniently located in Bushnell. Residents can handle licensing, registration, and vehicle needs locally or online through the state website. Access to DMV resources is straightforward and reliable.
State:
Florida
Department:
Florida Department of Highway Safety and Motor Vehicles
Address:
319 E Anderson Ave, Bushnell, FL 33513
Phone:
352-569-3130
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.