In the 2021 Census of Population conducted by Statistics Canada, Cochrane Lake had a population of 767 living in 240 of its 252 total private dwellings, a change of  from its 2016 population of 799.
In the 2021 Census of Population conducted by Statistics Canada, Cochrane Lake had a population of 767 residing in 240 out of its 252 total private dwellings, differing from the 2016 population of 799.