Loading Content...
Demographic Analysis of Panama City, Florida: Racial Composition and Economic Trends from 2013 to 2022
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
Panama City, Florida, exhibits demographic changes from 2013 to 2022. The city maintains a "White Majority" status with 65% white population in 2022, down from 72% in 2013. This shift indicates a gradual transition from "Low Diversity" to "Moderate Diversity." The Black population increased from 15% to 18%, and the Hispanic population grew from 7% to 8%. The "Two or More Races" category tripled from 2% to 6%.
The median income in Panama City rose from $44,145 in 2013 to $54,827 in 2022, a 24% increase. This economic growth coincides with the gradual diversification of the population. The city's population decreased slightly from 48,558 in 2013 to 46,397 in 2022.
The trends in Panama City align with broader national patterns of increasing diversity in urban areas and growing income levels. However, the rate of diversification appears slower than in many other U.S. cities experiencing rapid demographic changes due to immigration or internal migration.
Based on observed trends, Panama City will likely continue its gradual transition towards greater diversity. If current trends persist, the city might move from a "White Majority" to a "White Plurality" within the next decade or two. The increasing multiracial population suggests that the "Two or More Races" category could become more significant, potentially pushing the city towards the "High Diversity" category in the longer term.
Economically, if the correlation between diversification and income growth continues, further increases in median income might be expected. However, the stagnant population growth could pose challenges to sustained economic development.
Panama City appears to be on a path of slow but steady diversification and economic growth. While it remains a "White Majority" city, it shows signs of transitioning towards a more diverse and economically prosperous future. Monitoring these trends will be crucial for understanding the evolving dynamics of this Florida community.
