The median income in Tavares has grown from $41,102 in 2013 to $47,629 in 2022, representing a 15.9% increase over nine years. This growth has been relatively modest and has not kept pace with inflation. The increasing diversity correlates with the rising median income, which could indicate that the influx of new residents, particularly from the Hispanic community, may be contributing to economic growth in the area.

The trends observed in Tavares align with broader patterns seen in many suburban areas across the United States. The gradual increase in diversity, particularly through growth in Hispanic populations, is a common trend in many parts of Florida and the broader Sunbelt region.

Based on the observed trends, Tavares is likely to continue its trajectory towards increased diversity. If current trends persist, Tavares may transition from "Low Diversity" to "Moderate Diversity" within the next 5-10 years. The Hispanic population is expected to continue growing, potentially reaching or exceeding 15% of the total population.

Economically, if the correlation between increasing diversity and rising median income continues, further modest growth in median income might be expected. However, this growth may be tempered by broader economic factors and the relatively slow pace of increase observed over the past decade.

Tavares appears to be on the cusp of a demographic transition, slowly moving away from its historical status as a predominantly white, low-diversity community towards a more diverse, multicultural landscape. This shift has the potential to reshape the social, cultural, and economic fabric of the city in the coming years.