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Lake Wendouree is a suburb of Ballarat, Victoria, Australia located immediately west of the Ballarat central business district. It encompasses the man-made recreational lake Lake Wendouree, after which it is named. At the 2016 census, Lake Wendouree had a population of 2,882.Lake Wendouree is home to many of the city's wealthiest residents and much of its old money. It has the highest median value in the Ballarat urban area ($610,000). The suburb also holds the record for the highest declared price for a (non-subdivision) residential property sale in Ballarat - $1.5 million and has highest percentage of home ownership in Ballarat.
Lake Wendouree is bordered by the Ballarat railway line to the north, Drummond Street North and Lexton Street to the east, Mair and Sturt Streets to the south, and Gillies Street to the west.