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Demographic Analysis of Oakwood Neighborhood: Low Diversity and Racial Composition
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Oakwood, a neighborhood in Hickory, North Carolina, exhibits characteristics of Low Diversity, with a white population of 78% as of 2022. The median income of $63,112 in 2022 suggests a middle-class community. Oakwood is known for its historic district featuring late 19th and early 20th-century homes.
Over the past decade, Oakwood has maintained its status as a Low Diversity neighborhood, with the white population remaining the dominant racial group. The white population decreased from 82% in 2013 to 78% in 2022. The Asian population increased from 0% in 2013 to 4% in 2022. The Black population grew from 1% in 2013 to 9% in 2022.
The median income in Oakwood has fluctuated over the years. It rose from $50,282 in 2013 to a peak of $72,122 in 2021, before settling at $63,112 in 2022. This overall increase in median income correlates with the gradual increase in diversity. The population has remained relatively stable, fluctuating between about 1,300 and 1,500 residents throughout the decade.
Oakwood's changes align with broader national trends of increasing diversity in suburban and urban neighborhoods. The pace of change in Oakwood appears slower than national averages. The economic growth in Oakwood, particularly the jump in median income between 2013 and 2021, outpaces many similar-sized communities nationally.
Oakwood remains categorized as a Low Diversity neighborhood, but shows signs of a Transitional Community, with gradual increases in minority populations and economic growth. These trends, if continued, could lead to more significant demographic shifts and potentially a recategorization to Moderate Diversity in the coming years. The neighborhood's historic character, combined with these demographic and economic changes, presents a blend of preservation and evolution that may shape its future development and community dynamics.
