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Demographic Analysis of Lafayette, Minnesota (56054): Low Racial Diversity and Economic Growth
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Lafayette, Minnesota (zip code 56054) is categorized as a "Low Diversity" community. As of 2022, the white population constitutes 97% of the total population. The city has a population of 898 and a median income of $79,612 as of 2022.
Lafayette has maintained its status as a "Low Diversity" community over the past decade. The white population has remained the majority, ranging from 96% to 98% from 2013 to 2022. There have been no significant transitions between diversity categories during this time.
Minor demographic shifts have occurred. The Hispanic population decreased from 3% in 2013 to 0% in 2022. The population identifying as two or more races increased from 1% in 2013 to 2% in 2022. These changes suggest a slow trend towards increased diversity, but not enough to change the overall classification of the community.
The median income in Lafayette has shown an upward trend over the past decade. In 2013, the median income was $57,077. By 2022, it had increased to $79,612, a growth of about 39.5%. This increase in median income occurred while the racial composition remained stable, suggesting that economic growth has primarily benefited the existing white majority population.
The population has remained relatively stable, with minor fluctuations. In 2013, there were 880 residents. In 2022, there were 898 residents. This slight population growth of about 2% over a decade, coupled with the significant income increase, might indicate improving economic conditions attracting a small number of new residents while retaining existing ones.
The lack of significant racial diversity in Lafayette contrasts with national trends towards increasing diversity in many urban and suburban areas. The increase in median income (39.5% over a decade) outpaces typical national wage growth rates, suggesting that Lafayette has experienced stronger economic growth than many other areas of the country. The stability of the racial composition, despite economic growth, might indicate limited in-migration from diverse populations.
Lafayette presents a picture of a small, predominantly white community that has experienced significant economic growth over the past decade without substantial changes in its racial composition. This stability in demographics, coupled with economic prosperity, suggests a community that has benefited from local or regional economic factors while maintaining its traditional demographic structure.
