Rankin Inlet is an Inuit

Inuit

The Inuit are a group of culturally similar indigenous peoples inhabiting the Arctic regions of Canada , Denmark , Russia and the United States . Inuit means “the people” in the Inuktitut language...

 hamlet

Hamlet (place)

A hamlet is usually a rural settlement which is too small to be considered a village, though sometimes the word is used for a different sort of community. Historically, when a hamlet became large enough to justify building a church, it was then classified as a village...

 on Kudlulik Peninsula in Nunavut

Nunavut

Nunavut is the largest and newest federal territory of Canada; it was separated officially from the Northwest Territories on April 1, 1999, via the Nunavut Act and the Nunavut Land Claims Agreement Act, though the actual boundaries had been established in 1993...

, Canada

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

. Located on the northwestern Hudson Bay

Hudson Bay

Hudson Bay , sometimes called Hudson's Bay, is a large body of saltwater in northeastern Canada. It drains a very large area, about , that includes parts of Ontario, Quebec, Saskatchewan, Alberta, most of Manitoba, southeastern Nunavut, as well as parts of North Dakota, South Dakota, Minnesota,...

, between Chesterfield Inlet

Chesterfield Inlet

Chesterfield Inlet is an inlet in Kivalliq Region, Nunavut, Canada. It is an arm of northwestern Hudson Bay, and the end point of the Thelon River after its passage through Baker Lake. Cross Bay, a large widening of the inlet, occurs east of Baker Lake...

 and Arviat, it is the regional centre for the Kivalliq Region.

As of the 2006 census

Canada 2006 Census

The Canada 2006 Census was a detailed enumeration of the Canadian population. Census day was May 16, 2006. The next census following will be the 2011 Census. Canada's total population enumerated by the 2006 census was 31,612,897...

 the population was 2,358, an increase of 8.3% from the 2001 census

Canada 2001 Census

The Canada 2001 Census was a detailed enumeration of the Canadian population. Census day was May 15, 2001. On that day, Statistics Canada attempted to count every person in Canada. The total population count of Canada was 30,007,094. This was a 4% increase over 1996 Census of 28,846,761. In...

. It is the second-most populated community in Nunavut (behind the capital of Iqaluit). The hamlet has a land area of 20.24 km² (7.8 sq mi).

In the 1995 Nunavut capital plebiscite, Iqaluit

Iqaluit, Nunavut

Iqaluit is the territorial capital and the largest community of the Canadian territory of Nunavut. Iqaluit is located on the south coast of Baffin Island at the head of Frobisher Bay. As of the 2006 census the population was 6,184, an increase of 18.1 percent from the 2001 census; it has the...

 defeated Rankin Inlet to become territorial capital of Nunavut.
Archaeological sites established the area was inhabited around 1200 A.D.