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Demographic and Economic Trends in Pascoag: A Low Diversity Neighborhood with Racial Composition Changes
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Pascoag, a Census Designated Place in Rhode Island, is classified as a "Low Diversity" community based on its demographic profile. As of 2022, the white population comprises 89% of the total, exceeding the 75% threshold for this classification. The neighborhood has experienced significant economic growth, with the median income increasing from $77,951 in 2013 to $106,821 in 2022, indicating a strong local economy. Pascoag has historical significance as a former mill village, which has influenced its development and community structure.
Over the past decade, Pascoag has maintained its "Low Diversity" status, but subtle demographic shifts have occurred. The percentage of white residents has decreased slightly from 94% in 2013 to 89% in 2022. The Hispanic population has increased from 2% in 2013 to 8% in 2022, and the Asian population has grown from 0% in 2013 to 1-2% in recent years. These changes suggest a gradual increase in diversity, although not sufficient to alter the overall classification.
The economic landscape of Pascoag has seen significant positive changes. The median income has grown by approximately 37% over nine years, from $77,951 in 2013 to $106,821 in 2022. The population has increased from 9,589 in 2013 to 10,386 in 2022, representing a growth of about 8.3%.
The increasing median income coincides with the gradual diversification of the community. This may indicate that the influx of new residents, particularly from Hispanic and Asian backgrounds, is associated with economic opportunities in the area. The growth in both population and income levels suggests a thriving local economy that is attracting a slightly more diverse populace.
Pascoag's gradual shift towards greater diversity aligns with broader national trends of increasing diversity in suburban and rural areas. The significant income growth in Pascoag outpaces the national average, which saw about a 13% increase in median household income from 2013 to 2022. This indicates that Pascoag is experiencing stronger economic growth compared to many other parts of the country.
The transition from a historical mill village to a community with a median income over $100,000 represents a significant economic transformation. This evolution likely reflects broader regional trends in New England, where many former industrial areas have reinvented themselves economically.
In conclusion, Pascoag remains a "Low Diversity" community but shows signs of gradual demographic shifts and strong economic growth. These trends suggest a community in transition, balancing its historical character with emerging economic opportunities and a slowly diversifying population.
