The size of Lake Grace is approximately 96.2 square kilometres. It has 5 parks covering nearly 1.1% of total area. The population of Lake Grace in 2016 was 548 people. By 2021 the population was 523 showing a population decline of 4.6% in the area during that time. The predominant age group in Lake Grace is 0-9 years. Households in Lake Grace are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Lake Grace work in a managers occupation.In 2021, 63.20% of the homes in Lake Grace were owner-occupied compared with 61.10% in 2016.
Lake Grace has 466 properties. Over the last 5 years, Houses in Lake Grace have seen a 140.57% increase in median value, while Units have seen a 21.03% increase. As at 31 October 2025:
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