Liberty Lake is a somewhat small city located in the state of Washington. With a population of 12,651 people and three associated neighborhoods, Liberty Lake is the 84th largest community in Washington. There's nothing like the smell of a brand new house, and in Liberty Lake, you'll find that a large proportion of houses were recently built. New growth in residential real estate is an indication that people are choosing to move to Liberty Lake, and putting down their money on brand new construction. Liberty Lake’s real estate is, on average, some of the newest in the nation. Liberty Lake does seem to be experiencing an influx of affluent people, because the median household income is $101,936.00.

Housing costs in Liberty Lake are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in Washington.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 25.12% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

The citizens of Liberty Lake are among the most well-educated in the nation: 43.45% of adults in Liberty Lake have a bachelor's degree or even advanced degree, whereas the average US city has 21.84% holding at least a bachelor's degree.

The per capita income in Liberty Lake in 2022 was $48,512, which is upper middle income relative to Washington, and wealthy relative to the rest of the US. This equates to an annual income of $194,048 for a family of four. However, Liberty Lake contains both very wealthy and poor people as well.

The people who call Liberty Lake home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Liberty Lake residents report their race to be White, followed by Asian. Important ancestries of people in Liberty Lake include Irish, German, English, Norwegian, and Italian.

The most common language spoken in Liberty Lake is English. Other important languages spoken here include Italian and Other Indo-European.