Po Box 301, Sumterville
Sumter County Real Estate - Lake Panasoffkee
Lake Panasoffkee is in East Central Florida. It's population as recorded in the 2010 Census was 3,551. Lake Panasoffkee is approximately 27 miles from Ocala (population 56,315) and around 12 miles from The Villages (population 51,442).
The median age for residents of Lake Panasoffkee is 50.2. Around 21.3% of Lake Panasoffkee households include school aged children and 44.5% of households include individuals aged 65 years or over. Census records indicate 95.2% of the Lake Panasoffkee population are White, 1.4% are Black or African American, .2% American Indian, .7% Asian and 1.3% are Two or more Races.
There are 2,197 housing units in Lake Panasoffkee. 589 (26.8%) of these were reported as vacant in the 2010 Census. Lake Panasoffkee is a tourist destination, 55.3% (326) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 383 residential rental units in Lake Panasoffkee. 327 of them were occupied in 2010 providing a residential rental vacancy rate of 14.4%.
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Sumter County
Sumter County is located in East Central Florida, along with Brevard, Orange, Volusia, Seminole, Lake, and Osceola counties. Cities in Sumter County include Bushnell, Center Hill, Coleman, Webster, and Wildwood. The county is home to over 90,000.
The largest industries in Sumter County by employment are leisure & hospitality, trade & transportation, education & health services, and public administration. Sumter County major private employers are The Villages, T&D Concrete, Villages Regional Medical Center, Wal-Mart, and Sumter Electric Cooperative. Major public employers include Coleman Federal Prison, Sumter District Schools, Sumter Correctional Institute, Sumter County Government, and Lake Sumter Community College.
Known as "Hog County" for its large pig population, Sumter is historically a largely rural county. Sumter is number eighteen among Florida counties for number of cattle and calves. In the southern end of the county, near Webster, cucumbers, eggplants and peppers are grown for commercial sale. Near the unincorporated community of Oxford in the north, tomatoes and watermelons are the more popular crops.
The county is known to the Census Bureau as The Villages Micropolitan Statistical Area, named after the most populous census-designated place in Sumter County. The Villages is a large, planned retirement community that spans Sumter, Lake, and Marion Counties. The community in northeast Sumter County is home to over 50,000. In addition to the retirees, The Villages also contains subdivisions for workers and their families that includes a charter school. Over 95% of residents are white caucasians.
Neighboring Properties
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Local Household Income
The median household income in this part of Florida is $52,536. The bottom 10% of the population earn less than $19,404 per year. The top 10% earn more than $118,419 per year. The top 1% earn more than $306,813 per year. Most renters earn between $24,504 (20th percentile) and $42,492 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $105,072 and $131,340.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $801. Most renters earn between $2,042 and $3,541 per month. They typically spend 34% of their monthly income on rent. Most rents fall in the $619 (20th percentile) to $1,098 (80th percentile) range. The residential vacancy rate is 10%.