Lane was named after James H. Lane, a leader of the Jayhawkers abolitionist movement, who served as one of the first Senators from Kansas.
There are 97 households out of which 33.0% have children under the age of 18 living with them, 57.7% are married couples living together, 11.3% have a female householder with no husband present, and 25.8% are non-families. 22.7% of all households are made up of individuals and 7.2% have someone living alone who is 65 years of age or older. The average household size is 2.64 and the average family size is 2.99.
The population is spread out with 26.2% under the age of 18, 10.5% from 18 to 24, 30.5% from 25 to 44, 20.3% from 45 to 64, and 12.5% who are 65 years of age or older. The median age is 35 years. For every 100 females there are 103.2 males. For every 100 females age 18 and over, there are 110.0 males.
The median income for a household is $41,500, and the median income for a family is $42,500. Males have a median income of $32,031 compared to $21,429 for females. The per capita income is $19,144. 12.0% of the population and 11.4% of families are below the poverty line. Out of the total population, 13.1% of those under the age of 18 and 0.0% of those 65 and older are living below the poverty line.