Spring Lake, IN Profile: Facts & Data

The primary coordinate point for Spring Lake is located at latitude 39.7767 and longitude -85.853 in Hancock County. The formal boundaries for the Town of Spring Lake encompass a land area of 0.15 sq. miles and a water area of 0.01 sq. miles. Hancock County is in the Eastern time zone (GMT -5). The elevation is 850 feet.

The Town of Spring Lake (GNIS ID: 2397675) 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.

Spring Lake, IN Data & Demographics (As of July 1, 2020)

POPULATION
Total Population	240 (100%)
Population in Households	240 (100.0%)
Population in Families	205 (85.4%)
Population in Group Quarters¹	0
Population Density	1,572
Diversity Index²	10


INCOME
Median Household Income	$77,771
Average Household Income	$91,048
% of Income for Mortgage⁴	11%
Per Capita Income	$36,088
Wealth Index⁵	109

HOUSING
Total HU (Housing Units)	109 (100%)
Owner Occupied HU	88 (80.7%)
Renter Occupied HU	18 (16.5%)
Vacant Housing Units	2 ( 1.8%)
Median Home Value	$205,357
Average Home Value	$230,618
Housing Affordability Index³	243

HOUSEHOLDS
Total Households	107
Average Household Size	2.24
Family Households	81
Average Family Size	3

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.

Spring Lake, IN - Peer Comparisons by Rank and Percentile

The table below compares Spring Lake to the other 679 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2020 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	2010-2020	2020-2025
Population	0.94%	0.98%
Households	1.17%	1.1%
Families	1.87%	1.21%
Median Household Income		1.97%
Per Capita Income		2.06%
Owner Occupied HU		1.11%

Variable Description	Rank	Percentile
Total Population	# 578	15th
Population Density	# 244	64th
Median Household Income	# 57	92nd
Housing Affordability Index	# 248	37th
Per Capita Income	# 65	91st
Diversity Index	# 388	43rd

Spring Lake, IN Profile: Facts & Data

Spring Lake, Indiana - Basic Facts

Spring Lake, IN Data & Demographics (As of July 1, 2020)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Spring Lake, IN - Peer Comparisons by Rank and Percentile

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