The town is located half way between Perth and Esperance and acts as a stoping point for those traveling between Albany and the Wheatbelt.
The town has a population of about 530, with about 1500 people living within the shire. It was until recent years a typical wheatbelt town with the inevitable grain silos, CBH bulk loading facilities and a pub. However, substantial economic development is taking place within the town, which includes a new residential sub-division and a light industrial area. Also, Living Towns Lake Grace is a location within the town where over 130 commercial enterprises are located.
As with many country communities, the people of Lake Grace are concerned about capital leakage and are actively seeking new opportunities for their community, which are additional to the area's traditional agricultural activities.
Lake Grace contains a district high school with distance learning available for years 11 and 12, plus a childcare centre, a district hospital and a medical centre with a doctor and other health services available.
The town has three banks, Westpac, Bank West and Rabobank. The available shopping includes a local shopping forum with an IGA supermarket open seven days, a butcher, health & beauty, hair dresser and clothing shop. The two cafes Rosies and Arjos are well patronised, with the latter open Monday to Saturday. A Retravision, CCL Hardware (open seven days) and resident electrical contractor and plumber are also available.
A range of recreational facilities are available within the town, including a 50 metre pool, a sporting complex with footy, cricket, tennis, basketball and hockey facilities. The Sportsman's Club has a synthetic bowling surface allowing bowls to be played all year round. Plus, there is also a golf club and an air strip.
Accommodation is available within the town in the form of the local hotel, roadhouse motel, the Salt Bush Inn and the Lake Grace Caravan Park. A number of B&Bs are also available in the area.
The local shire office is located in Lake Grace, plus a Community Resource Centre is also available. The town is also a stop on the Transwa bus service to Esperance.
The Across the Lake Regatta takes place in January, and the Lake Grace Market Day takes place in November.
Kulin Nyabing Dumbleyung