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Demographic Analysis of Bank Street, Fall River: A White Majority Neighborhood with Emerging Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The Bank Street neighborhood in Fall River, Massachusetts, is characterized as a Low Diversity area with a White Majority, comprising 83% of the population in 2022. The neighborhood's median income was $40,938 in 2022, reflecting economic fluctuations over the past decade. Bank Street is known for its historic architecture and proximity to the Taunton River, and has experienced subtle demographic changes in recent years.
From 2013 to 2022, Bank Street maintained its status as a White Majority neighborhood. The white population decreased from 90% to 83% during this period. The Black population fluctuated, peaking at 11% in 2020 before returning to 4% in 2022. The Hispanic population increased from 1% to 6% over the decade. An Asian population emerged by 2020, remaining at 2% through 2022. The category of "Two or More Races" grew from 3% to 5%, indicating increased racial complexity.
The median income in Bank Street demonstrated considerable volatility. It generally increased from 2013 to 2019, reaching $48,780. In 2020, likely due to the COVID-19 pandemic, it dropped to $39,501. A sharp increase to $52,618 occurred in 2021, followed by a decline to $40,938 in 2022. Periods of income growth loosely correlated with increased diversity, particularly the growth in Black and Hispanic populations up to 2020.
Bank Street's gradual diversification aligns with broader national trends of increasing racial diversity in urban areas. The neighborhood's economic fluctuations, particularly the pandemic-related dip and subsequent volatility, reflect experiences in many American communities during this period.
The persistence of a White Majority in Bank Street contrasts with the increasing diversity seen in many urban areas across the United States. However, the gradual increase in minority populations suggests that Fall River, like many smaller cities, is experiencing delayed but steady demographic changes compared to larger metropolitan areas.
The economic volatility observed in Bank Street, especially in recent years, reflects the challenges faced by many working-class neighborhoods in smaller cities. The median income, while fluctuating, has generally remained below the Massachusetts state median, indicating ongoing economic challenges for the area.
Bank Street maintains its classification as a Low Diversity, White Majority neighborhood, but subtle demographic shifts and economic fluctuations point to a community in slow transition. These changes, though gradual, suggest that Bank Street is beginning to reflect broader national trends of increasing diversity and economic volatility, particularly in the wake of recent global events.
