The city's African-American population enjoyed a rise in prominence following the Civil War. Its African-American population was led by James Mason, son of Elisha Worthington, who became the county's sheriff, Republican boss, and state senator. After the war, black citizens of Lake Village continued to enjoy political power, holding most of the city's elected office for fifteen years. But in 1923, Charles Lindbergh made the first night flight over Lake Chicot.
The city is in the southernmost part of the state, in Chicot County. The population of Lake Village is 2,065. The city is the county seat of Chicot County and has a large farming community. According to the 2020 census, the population of Lake Village is expected to be 2,151. The USPS uses the term "Lake Village" to designate the city. Residents use this name as a placeholder.
The median property value in Lake Village, AR is $68,300. This is 0.284 times smaller than the national average. The homeownership rate is 55.9%, lower than the national average of 64.1%. Most residents commute by car, with an average commute of 14.4 minutes. Residents own two cars per household, which is about average compared to other American cities. However, the cost of living in Lake Village is much lower than the national average, at $103,300.
While the Lake Village economy relies on farming and aquaculture, the city is the county seat of Chicot County, Arkansas. Its state Tourist Information Center is situated on a pier extending into Lake Chicot and is the only one of its kind to use solar energy. The center is slated for replacement with a more modern tourist center. Public education is provided by the Lakeside School District, leading to Lakeside High School.