Winona Lake is located at . It is now contiguous to Warsaw, the two towns having run into each other as they have expanded. According to the 2010 census, Winona Lake has a total area of, of which is land and is water.
At the 2010 census there were 4,908 people, 1,569 households, and 1,098 families living in the town. The population density was. There were 1,786 housing units at an average density of. The racial makup of the town was 92.2% White, 1.5% African American, 0.1% Native American, 1.0% Asian, 4.0% from other races, and 1.2% from two or more races. Hispanic or Latino of any race were 7.4%. Of the 1,569 households 35.2% had children under the age of 18 living with them, 57.9% were married couplesliving together, 8.2% had a female householder with no husband present, 4.0% had a male householder with no wife present, and 30.0% were non-families. 25.0% of households were one person and 11.1% were one person aged 65 or older. The average household size was 2.62 and the average family size was 3.13. The median age in the town was 28.3 years. 23.7% of residents were under the age of 18; 22.3% were between the ages of 18 and 24; 21.3% were from 25 to 44; 19.9% were from 45 to 64; and 12.7% were 65 or older. The gender makeup of the town was 46.6% male and 53.4% female.
At the 2000 census there were 3,987 people, 1,371 households, and 972 families living in the town. The population density was 1,375.7 people per square mile. There were 1,513 housing units at an average density of 522.0 per square mile. The racial makup of the town was 91.15% White, 0.75% African American, 0.03% Native American, 0.85% Asian, 0.03% Pacific Islander, 5.74% from other races, and 1.45% from two or more races. Hispanic or Latino of any race were 8.28%. Of the 1,371 households 39.4% had children under the age of 18 living with them, 58.8% were married couples living together, 8.5% had a female householder with no husband present, and 29.1% were non-families. 23.3% of households were one person and 5.3% were one person aged 65 or older. The average household size was 2.73 and the average family size was 3.25. The age distribution was 28.8% under the age of 18, 10.2% from 18 to 24, 29.2% from 25 to 44, 18.8% from 45 to 64, and 12.9% 65 or older. The median age was 32 years. For every 100 females, there were 95.6 males. For every 100 females age 18 and over, there were 91.9 males. The median household income was $42,454 and the median family income was $50,817. Males had a median income of $35,313 versus $25,769 for females. The per capita income for the town was $19,025. About 3.6% of families and 6.7% of the population were below the poverty line, including 5.3% of those under age 18 and 7.0% of those age 65 or over.