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Demographic Analysis of Lake Waterford Estates: Predominantly White Neighborhood with Emerging Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Lake Waterford Estates in New Smyrna Beach, Florida, is classified as a Low Diversity neighborhood with a predominantly white population of 89% in 2022. The median income in 2022 was $56,791, indicative of a middle-class community. The neighborhood is known for its waterfront properties and proximity to the Indian River.
Over the past decade, Lake Waterford Estates has maintained its status as a Low Diversity community. The white population has consistently remained above 75%, ranging from 81% to 96%. The Hispanic population showed a gradual increase from 4% in 2013 to a peak of 15% in 2020, before decreasing to 6% in 2022. The "Two or More Races" category increased from 0% in 2014-2018 to 4% by 2022.
The neighborhood has experienced significant economic growth over the past decade. Median income increased from $38,444 in 2013 to $56,791 in 2022, representing a 47.7% increase over nine years. The population decreased from 2,037 in 2010 to 1,606 in 2022, a 21.2% decline.
As the Hispanic population grew, there was a corresponding increase in median income, rising from $43,218 in 2016 to $56,767 in 2020. The slight increase in racial diversity coincided with the period of most significant income growth, suggesting a potential relationship between increased diversity and economic vitality.
Lake Waterford Estates' subtle shifts towards increased diversity align with broader national trends of growing multiracial and Hispanic populations. However, the neighborhood's diversity levels remain below national averages. The significant income growth in Lake Waterford Estates outpaces the national average, which saw about a 23% increase in median household income from 2010 to 2020.
In conclusion, Lake Waterford Estates remains categorized as a Low Diversity community, but shows signs of gradual demographic shifts and significant economic improvement. These trends, coupled with its coastal location, indicate a stable, affluent neighborhood slowly adapting to broader demographic changes while maintaining its distinct character.
