Balsam Lake is basically a village located within the periphery of Polk County. Beside this village there is a town of the same name. Balsam Lake has a total area of about 84 sq. kms. and located at a height of 1090 ft. above sea level. Local residents are generally involved with the agricultural sector. A number of schools are operated by Unity school district. There are also some shops and stores in the area. Some are also involved with the local health center. Tourism is generally a seasonal activity and contributes in the local economy.