Ithaca's demographic trends align with broader national patterns of increasing diversity in urban areas, particularly college towns. The growth in the Hispanic population and those identifying as two or more races reflects similar trends seen across the United States. The relatively stable Asian population percentage may be influenced by Ithaca's status as a university town.

Based on observed trends, Ithaca is likely to continue its gradual transition towards greater diversity. Predictions include a continued slow decrease in the white majority, potentially approaching but not falling below 60% in the next 5-10 years, further increases in the Hispanic population and those identifying as two or more races, and a stable or slightly growing Asian population.

Ithaca may transition from a "White Majority" to a "Moderate Diversity" classification within the next decade if the white population drops below 60% and other racial groups continue to grow. This shift could lead to changes in local cultural dynamics, business landscapes, and community services.

The fluctuating income trends make economic predictions challenging. If Ithaca can leverage its increasing diversity to attract a wider range of businesses and opportunities, it may see a gradual increase in median income. This economic growth, coupled with demographic changes, could position Ithaca as a model for diverse college towns in the future.