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Demographic Analysis of Homan Square: A Low Diversity Neighborhood with a Black Majority
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
Homan Square, a neighborhood in Chicago, Illinois, is classified as a Low Diversity community with a significant Black Majority. As of 2022, 88% of the population identifies as Black, with a median income of $25,555. The neighborhood is notable for its historical significance as the former site of the Sears, Roebuck and Co. headquarters, which has been redeveloped into a mixed-use community area.
Over the past decade, Homan Square has maintained its status as a Low Diversity community with a strong Black Majority. However, there have been subtle shifts in its racial composition. The Black population has decreased slightly from 95% in 2013 to 88% in 2022. The Hispanic population has increased modestly from 1% in 2013 to 4% in 2022. The White population has shown a gradual increase from 2% in 2013 to 5% in 2022. There has been a small increase in the "Two or More Races" and "Other" categories, collectively rising from 0% in 2013 to 3% in 2022.
The economic landscape of Homan Square has shown some improvement over the past decade. There has been a notable increase in median income from $20,976 in 2013 to $25,555 in 2022, representing a growth of about 22%. The population has remained relatively stable, with minor fluctuations. It decreased from 4,377 in 2013 to 4,349 in 2022, a marginal decline of less than 1%.
The increase in median income, while positive, has not been substantial enough to dramatically alter the neighborhood's economic status. This modest economic growth appears to coincide with the slight increase in racial diversity, potentially indicating a correlation between incoming residents of different racial backgrounds and economic changes.
Homan Square's median income of $25,555 in 2022 remains significantly below the national median household income of approximately $70,784 in the same year. This suggests that despite improvements, Homan Square continues to face economic challenges compared to national averages. The neighborhood's demographic composition, with its strong Black majority, is characteristic of many historically Black neighborhoods in major urban areas across the United States.
The slow pace of change in Homan Square, both demographically and economically, may reflect broader challenges in urban revitalization and economic mobility for historically marginalized communities. While the neighborhood shows signs of gradual improvement and diversification, these changes are occurring at a slower rate compared to rapidly gentrifying areas in other parts of Chicago or similar urban centers across the country.
In conclusion, while Homan Square remains a Low Diversity community with a strong Black Majority, subtle shifts in its demographic makeup and modest economic improvements suggest a neighborhood in slow transition. These changes, while not dramatic, may indicate the beginning of a longer-term trend towards increased diversity and economic development in the area.
