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Demographic Analysis of Center Square, Albany: Racial Composition and Economic Trends
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Center Square, a neighborhood in Albany, New York, is predominantly White with moderate diversity. As of 2022, the population is 1,538 with a median income of $57,812. The area is characterized by 19th-century townhouses, contributing to its residential appeal near downtown Albany.
Center Square has experienced fluctuations in racial composition over the past decade while maintaining its White Majority status. In 2013, the neighborhood exhibited Low Diversity with an 87% white population. From 2014 to 2018, diversity increased, potentially categorizing it as a Transitional Community. The Black population rose from 3% in 2013 to 18% in 2018, and the Hispanic population grew from 4% to 9% in the same period, indicating a shift towards Moderate Diversity.
From 2019 onwards, this trend reversed, with the white population increasing to 82% by 2022, returning the neighborhood to Low Diversity. Demographic shifts correlate with changes in median income. As diversity increased between 2013 and 2018, median income grew from $44,291 to $55,071, suggesting a link between increasing diversity and economic development.
As the neighborhood reverted to a less diverse state from 2019, median income continued to rise, reaching $62,235 in 2021 before decreasing slightly to $57,812 in 2022. This indicates that while racial composition changed, the overall economic status of the neighborhood improved, potentially attracting more affluent residents across different racial groups.
Center Square's demographic trends partially reflect broader national patterns of increasing diversity in urban areas, particularly growth in Hispanic and multiracial populations. However, the recent reversal of this trend, with a return to a more homogeneous racial composition, diverges from national trends towards increasing diversity in many urban neighborhoods.
The economic growth in Center Square, with median income rising from $44,291 in 2013 to $57,812 in 2022, outpaces national median household income growth over a similar period. This suggests that Center Square has experienced relatively strong economic development compared to national averages.
Center Square experienced a period of increasing diversity and consistent economic growth from 2013 to 2018. Recent years have seen a return to a more homogeneous racial composition. Despite this, the neighborhood has maintained its economic gains, indicating a complex interplay between demographic shifts and economic factors in this historic Albany neighborhood.
