Waterford, PA Profile: Facts & Data

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Waterford, Pennsylvania - Basic Facts

The Borough of Waterford had a population of 1,450 as of July 1, 2020. Waterford ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Pennsylvania. See peer rankings below.

The primary coordinate point for Waterford is located at latitude 41.9428 and longitude -79.9845 in Erie County. The formal boundaries for the Borough of Waterford encompass a land area of 1.23 sq. miles and a water area of 0.01 sq. miles. Erie County is in the Eastern time zone (GMT -5). The elevation is 1,204 feet.

The Borough of Waterford (GNIS ID: 1215219) has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Alternate Unofficial Names for Waterford: Fort Le Boeuf.

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Waterford, PA Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,450 (100%)
Population in Households 1,450 (100.0%)
Population in Families 1,149 (79.2%)
Population in Group Quarters1 0
Population Density 1,183
Diversity Index2 7
 
 

INCOME

Median Household Income $44,893
Average Household Income $55,698
% of Income for Mortgage4 14%
Per Capita Income $23,432
Wealth Index5 43
 

HOUSING

Total HU (Housing Units) 661 (100%)
Owner Occupied HU 376 (56.9%)
Renter Occupied HU 234 (35.4%)
Vacant Housing Units 51 ( 7.7%)
Median Home Value $147,525
Average Home Value $169,614
Housing Affordability Index3 154
 

HOUSEHOLDS

Total Households 610
Average Household Size 2.38
Family Households 393
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.44% -0.42%
Households -0.21% -0.3%
Families -0.39% -0.41%
Median Household Income   2.51%
Per Capita Income   2.57%
Owner Occupied HU   0.42%

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Waterford, PA - Peer Comparisons by Rank and Percentile

The table below compares Waterford to the other 1,761 incorporated cities, towns and CDPs in Pennsylvania by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 784 56th
Population Density # 979 44th
Median Household Income # 1416 20th
Housing Affordability Index # 315 18th
Per Capita Income # 1499 15th
Diversity Index # 1338 24th

Additional comparisons and rankings can be made with a VERY EASY TO USE Pennsylvania Census Data Comparison Tool.

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