Ostrvica is located in the City of Gospić, in Lika-Senj County at an elevation of 580 meters above sea level and it covers the area of 27.89 km² (10.77 sq. miles). According to the 2011 census report, there were 16 inhabitants. It is mostly populated by Serbs (65%), but also Croats (30%). Nearby places: Barlete, Bilaj, Lički Osik, Budak, Novoselo Bilajsko, Široka Kula, Vrebac, Smiljansko Polje, Gospić and Zavođe.