Vaganac is located in the City of Gospić, in Lika-Senj County at an elevation of 568 meters above sea level and it covers the area of 8.47 km² (3.27 sq. miles). According to the 2011 census report, there were 30 inhabitants. It is entirely populated by Croats. Nearby places: Aleksinica, Vranovine, Klanac, Kruščica, Kaluđerovac, Oteš, Podastrana, Donje Pazarište, Mlakva and Rastoka.