The 2016 Canada Census does not list a population for Cannington Lake, only for the RM of Moose Mountain, which was 492 in 2016.

In the 1960s, Ed McCullough had wanted to build a ski hill north of the lake and had purchased the CPR railway station from the nearby town of Carlyle for the project.

Over the years the lake water levels declined severely due to beaver damming, resulting in many of the residents moving their cabins away.

The lake levels have been on the rise in recent years due to beaver control measures.

[6] Cannington Lake's status was changed from organized hamlet to special service area on January 1, 2025.