[7] According to the United States Census Bureau, the city has a total area of 4.81 square miles (12.46 km2), all land.

[8] As of the census of 2020,[10] there were 1,731 people, 744 households, and 455 families residing in the city.

Hispanic or Latino persons of any race comprised 1.5% of the population.

As of the census[11] of 2010, there were 1,727 people, 757 households, and 451 families residing in the city.

Of all households 37.1% were made up of individuals, and 20.3% had someone living alone who was 65 years of age or older.

As of the census[12] of 2000, there were 1,787 people, 779 households, and 468 families residing in the city.

Of all households, 36.2% were made up of individuals, and 22.6% had someone living alone who was 65 years of age or older.

Lake City also has many small businesses, including a hardware store, fitness center, restaurants, shopping and a theatre.

[13] Lake City is within the South Central Calhoun Community School District.

[14] It was a part of the Lake City Community School District until July 1, 1993, when it merged into the Southern Cal Community School District, which, in turn, merged into South Central Calhoun on July 1, 2014.

[15] In 2007, the Southern Cal district closed the Lincoln Elementary School building and later sold it for $22,000 to a private individual.