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Demographic Analysis of Banner, Illinois: A Study of Racial Composition and Economic Trends
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Banner, Illinois is classified as a "Low Diversity" community as of 2022. The population is 98% white, indicating strong racial homogeneity. The current median income is $49,686, and the population stands at 655.
From 2013 to 2022, Banner has consistently been categorized as "Low Diversity". The white population has remained above 94% throughout this period, with minimal representation from other racial groups. There has been a slight increase in the white population percentage from 94% in 2019 to 98% in 2022. The Native American population showed a small increase from 0% in 2013 to 2% in 2019-2020, but has since decreased to 1% in 2021-2022. The population identifying as two or more races has decreased from 2% in 2013 to 0% in 2021-2022.
The median income in Banner has fluctuated over the years. It reached its peak in 2017 at $61,030 but has since declined to $49,686 in 2022, representing a decrease of about 18.6% over five years. This economic downturn coincides with a slight increase in racial homogeneity. The population of Banner has also experienced fluctuations. It peaked in 2015 at 947 residents but has since declined to 655 in 2022, a decrease of about 30.8%. This population decline correlates with the decrease in median income, suggesting possible economic challenges in the area.
The trend of increasing racial homogeneity in Banner appears to be counter to the national trend of increasing diversity in many areas of the United States.
Based on the observed trends, it is likely that Banner will continue to be categorized as a "Low Diversity" community in the near future. The white population percentage has been increasing slightly in recent years, and there is no indication of significant in-migration from other racial groups.
Economically, if the downward trend in median income and population continues, the village might face challenges in maintaining local services and attracting new residents. This could potentially lead to a scenario where the community becomes even more homogeneous, as those with the means to relocate might do so in search of better economic opportunities.
Small communities can be significantly impacted by even minor changes. If efforts are made to attract new businesses or residents, or if there are changes in the broader regional economy, the trajectory of Banner could shift. In an optimistic scenario, such efforts could potentially lead to a transition towards a "Moderate Diversity" category, but this would require significant changes from the current trends.
