Palmer Lake, CO Profile: Facts & Data

The primary coordinate point for Palmer Lake is located at latitude 39.1222 and longitude -104.9172 in El Paso County. The formal boundaries for the Town of Palmer Lake encompass a land area of 3.09 sq. miles and a water area of 0.02 sq. miles. El Paso County is in the Mountain time zone (GMT -7).

The Town of Palmer 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.

Colorado is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Town of Palmer Lake is located within Monument Division of El Paso County.

Palmer Lake, CO Data & Demographics (As of July 1, 2023)

POPULATION
Total Population	2,680 (100%)
Population in Households	2,680 (100.0%)
Population in Families	2,160 (80.6%)
Population in Group Quarters¹	0
Population Density	868
Diversity Index²	36


INCOME
Median Household Income	$114,832
Average Household Income	$136,295
% of Income for Mortgage⁴	32%
Per Capita Income	$57,417
Wealth Index⁵	160
Socioeconomic Status Index⁶	Moderate (62.9)

HOUSING
Total HU (Housing Units)	1,215 (100%)
Owner Occupied HU	988 (81.3%)
Renter Occupied HU	141 (11.6%)
Vacant Housing Units	86 ( 7.1%)
Median Home Value	$602,885
Average Home Value	$620,471
Housing Affordability Index³	83

HOUSEHOLDS
Total Households	1,129
Average Household Size	2.37
Family Households	728
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.

Palmer Lake, CO - Peer Comparisons by Rank and Percentile

The table below compares Palmer Lake to the other 482 incorporated cities, towns and CDPs in Colorado by rank and percentile using July 1, 2023 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	2020-2023	2023-2028
Population	0.31%	0.41%
Households	1.29%	0.66%
Families		0.46%
Median Household Income		2.56%
Per Capita Income		3.09%
Owner Occupied HU		0.86%

Variable Description	Rank	Percentile
Total Population	# 154	68th
Population Density	# 214	56th
Median Household Income	# 73	85th
Housing Affordability Index	# 296	61st
Per Capita Income	# 107	78th
Diversity Index	# 334	31st

Palmer Lake, CO Profile: Facts & Data

Palmer Lake, Colorado - Basic Facts

Palmer Lake, CO Data & Demographics (As of July 1, 2023)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Palmer Lake, CO - Peer Comparisons by Rank and Percentile

Palmer Lake, CO - Most Popular Things to Do

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