Palmer Lake, CO

Census Place

2024 Population

2,623

US Senator

Michael Bennet

Democratic Party

US Senator

John Hickenlooper

Democratic Party

2024 Median Age

51.9

5.06% 1-year increase

2024 Poverty Rate

4.36%

28.5% 1-year increase

2024 Median Household Income

$125,357

2.04% 1-year growth

2024 Median Property Value

$485,700

Population & Diversity

Palmer Lake, CO is home to a population of 2.62k people, from which 96.6% are citizens.

As of 2024, 7.74% of Palmer Lake, CO residents were born outside of the country (203 people).

In 2024, there were 14.1 times more White (Non-Hispanic) residents (2.16k people) in Palmer Lake, CO than any other race or ethnicity. There were 153 Two Races Including Other (Hispanic) and 96 Other (Non-Hispanic) residents, the second and third most common ethnic groups.

Population & Diversity

Citizenship

96.6%

2024 Citizenship

96.5%

2023 Citizenship

As of 2024, 96.6% of Palmer Lake, CO residents were US citizens, which is higher than the national average of 93.2%. In 2023, the percentage of US citizens in Palmer Lake, CO was 96.5%, meaning that the rate of citizenship has been increasing.

The following chart shows US citizenship percentages in Palmer Lake, CO compared to that of it's neighboring and parent geographies.

Diversity

Race and Ethnicity

The 3 largest ethnic groups in Palmer Lake, CO

White (Non-Hispanic)
2.16k ± 219
Two Races Including Other (Hispanic)
153 ± 144
Other (Non-Hispanic)
96 ± 114

10.4%

Hispanic Population

272 people

10.4% of the people in Palmer Lake, CO are hispanic (272 people).

The following chart shows the 8 races represented in Palmer Lake, CO as a share of the total population.

Global Diversity

The PUMS dataset is not available at the Place level, so we are showing data for Colorado.

Most Common Origin

Mexico
205,206 ± 10,925 people
India
23,918 ± 3,789 people
China
18,011 ± 3,290 people

In 2024, the most common birthplace for the foreign-born residents of Colorado was Mexico, the natal country of 205,206 Colorado residents, followed by India with 23,918 and China with 18,011.

Foreign-Born Population

7.74%

2024 Foreign-Born Population

203 people

8.27%

2023 Foreign-Born Population

218 people

As of 2024, 7.74% of Palmer Lake, CO residents (203 people) were born outside of the United States, which is approximately the same as the national average of 14%. In 2023, the percentage of foreign-born citizens in Palmer Lake, CO was 8.27%, meaning that the rate has been decreasing.

The following chart shows the percentage of foreign-born residents in Palmer Lake, CO compared to that of it's neighboring and parent geographies.

Military

Veterans

Most Common Service Period

Vietnam
75 ± 46
Gulf War (1990s)
47 ± 38
Gulf War (2001-)
35 ± 35

Palmer Lake, CO has a large population of military personnel who served in Vietnam, 1.6 times greater than any other conflict.

The chart shows the distribution of veterans by conflict in Palmer Lake, CO.

Economy

The economy of Palmer Lake, CO employs 1.43k people. In 2024, the largest industries in Palmer Lake, CO were Educational Services (166 people), Manufacturing (136 people), and Construction (126 people), and the highest paying industries were Manufacturing ($106,905), Educational Services ($90,885), and Transportation & Warehousing ($85,769).

Employment

Occupations

1.43k

2024 Value

± 280

−2.85%

1 Year decline

± 28.3%

From 2023 to 2024, employment in Palmer Lake, CO declined at a rate of −2.85%, from 1.47k employees to 1.43k employees.

The most common job groups, by number of people living in Palmer Lake, CO, are Management Occupations (215 people), Education Instruction, & Library Occupations (162 people), and Sales & Related Occupations (161 people). This chart illustrates the share breakdown of the primary jobs held by residents of Palmer Lake, CO.

Unemployment Insurance Claims

Data is only available at the state level. Showing data for Colorado.

This chart shows weekly unemployment insurance claims in Colorado (not-seasonally adjusted) compared with the four states with the most similar impact.

The most recent data point uses Advance State Claims data, which can be revised in subsequent weeks.

Industries

Employment by Industries

1.43k

2024 Value

± 280

−2.85%

1 Year decline

± 28.3%

From 2023 to 2024, employment in Palmer Lake, CO declined at a rate of −2.85%, from 1.47k employees to 1.43k employees.

The most common employment sectors for those who live in Palmer Lake, CO, are Educational Services (166 people), Manufacturing (136 people), and Construction (126 people). This chart shows the share breakdown of the primary industries for residents of Palmer Lake, CO, though some of these residents may live in Palmer Lake, CO and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$62,813

Median earning men ± $22,387

$50,441

Median earning women ± $3,597

The industries with the best median earnings for men in 2024 are Professional, Scientific, & Management, & Administrative & Waste Management Services ($163,125), Manufacturing ($108,813), and Public Administration ($105,250).

The industries with the best median earnings for women in 2024 are Finance & Insurance, & Real Estate & Rental & Leasing ($61,086), Manufacturing ($57,163), and Educational Services, & Health Care & Social Assistance ($53,750).

Housing & Living

The median property value in Palmer Lake, CO was $485,700 in 2024, which is 1.46 times larger than the national average of $332,700. Between 2023 and 2024 the median property value increased from $454,000 to $485,700, a 6.98% increase. The homeownership rate in Palmer Lake, CO is 90.1%, which is higher than the national average of 65.2%.

People in Palmer Lake, CO have an average commute time of 21.8 minutes, and they drove alone to work. Car ownership in Palmer Lake, CO is approximately the same as the national average, with an average of 2 cars per household.

Housing

Property

$485,700

Median Property Value 2024

±$48,170

$959

Median Property Taxes

±$225

The following chart display owner-occupied housing units distributed between a series of property tax buckets compared to the national averages for each bucket. In Palmer Lake, CO the largest share of households pay taxes in the $1,500 - $2k range.

The chart underneath the paragraph shows the property taxes in Palmer Lake, CO compared to it's parent and neighbor geographies.

Rent vs Own

90.1%

Homeownership

2024

72%

Homeowners with Mortgage

2024

In 2024, 90.1% of the housing units in Palmer Lake, CO were occupied by their owner. This percentage grew from the previous year's rate of 88.2%.

This chart shows the percentage of owner in Palmer Lake, CO compared it's parent and neighboring geographies.

Equity

Household Income

Please note that the buckets used in this visualization were not evenly distributed by ACS when publishing the data.

$125,357

Median Household Income

± $22,391

1.06k

Number of Households

± 237

In 2024, the median household income of the 1.06k households in Palmer Lake, CO grew to $125,357 from the previous year's value of $122,855.

The following chart displays the households in Palmer Lake, CO distributed between a series of income buckets compared to the national averages for each bucket. The largest share of households have an income in the $125k - $150k range.

Wage Distribution

The closest comparable wage GINI for Palmer Lake, CO is from Colorado.

0.46

2024 Wage GINI in Colorado

0.462

2023 Wage GINI in Colorado

In 2024, the income inequality in Colorado was 0.46 according to the GINI calculation of the wage distribution. Income inequality had a 0.498% decline from 2023 to 2024, which means that wage distribution grew somewhat more even. The GINI for Colorado was lower than than the national average of 0.474. In other words, wages are distributed more evenly in Colorado in comparison to the national average.

This chart shows the number of workers in Colorado across various wage buckets compared to the national average.

Transportation

Commuter Transportation

Most Common Commute in 2024

Drove Alone (67.3%)
Worked At Home (28.8%)
Carpooled (3.91%)

In 2024, 67.3% of workers in Palmer Lake, CO drove alone to work, followed by those who worked at home (28.8%) and those who carpooled to work (3.91%).

The following chart shows the number of households using each mode of transportation over time, using a logarithmic scale on the y-axis to help better show variations in the smaller means of commuting.

Commute Time

21.8 minutes

Average Travel Time

Using averages, employees in Palmer Lake, CO have a shorter commute time (21.8 minutes) than the normal US worker (26.4 minutes). Additionally, 0.981% of the workforce in Palmer Lake, CO have "super commutes" in excess of 90 minutes.

The chart below shows how the median household income in Palmer Lake, CO compares to that of it's neighboring and parent geographies.

Car Ownership

2 cars

Average Number

The following chart displays the households in Palmer Lake, CO distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Palmer Lake, CO have 2 cars.

Poverty

Poverty & Diversity

4.36% of the population for whom poverty status is determined in Palmer Lake, CO (114 out of 2.62k people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Females 75+, followed by Males 55 - 64 and then Females 18 - 24.

The most common racial or ethnic group living below the poverty line in Palmer Lake, CO is White, followed by Black and Native American.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.

Social Needs

Data only available at the state level.

Most prevalent states

California
35,798 individuals
New York
5,087 individuals

In 2017, California had the highest estimated number of chronically homeless individuals in the nation, at 35,798, followed by New York (5,087).

The following map shows the estimated number of chronically homeless individuals by state over multiple years.

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