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Demographic Analysis of The Waterfront Neighborhood: High Diversity and Racial Composition
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The Waterfront neighborhood in Jersey City, New Jersey, exhibits a High Diversity demographic profile as of 2022. The area has a population of 24,058 and a median income of $166,878. The Waterfront has undergone significant redevelopment, transitioning from an industrial area to a residential and commercial district.
The Waterfront has maintained its status as a High Diversity area over the past decade. In 2013, the neighborhood had an Asian majority of 50%, with whites forming 36% of the population. By 2022, Asians remained the largest group at 51%, while the community became more diverse overall. The Hispanic population increased from 6% to 9%, and those identifying as two or more races grew from 2% to 4%.
The white population declined from 36% in 2013 to 30% in 2022. This trend aligns with the definition of a Majority-Minority community, as minority groups now constitute a majority of the population. The neighborhood has experienced economic growth alongside its demographic changes. The median income increased from $157,014 in 2013 to $166,878 in 2022, a 6.3% rise. The area saw peak median income in 2021 at $176,648.
The population grew from 19,398 in 2013 to 24,058 in 2022, a 24% increase. This growth, coupled with high median incomes, suggests The Waterfront remains attractive to affluent professionals, particularly those of Asian descent.
The trends in The Waterfront reflect patterns seen in urban coastal areas near major financial centers. The increasing diversity and high incomes are characteristic of global cities attracting international talent. The neighborhood's demographic shifts mirror trends in other parts of the New York metropolitan area. However, The Waterfront's high median income distinguishes it from many other diverse urban neighborhoods.
The slight decrease in median income from 2021 to 2022 could relate to broader economic trends, such as the aftermath of the COVID-19 pandemic or job market shifts. This change requires continued observation to determine if it is a temporary fluctuation or the start of a new trend.
The Waterfront neighborhood exemplifies a High Diversity, high-income urban area that has become increasingly diverse over the past decade while maintaining its economic appeal. The area's evolution from an Asian Majority to a more balanced multi-ethnic community, while sustaining high median incomes, demonstrates its unique position in the urban landscape of the New York metropolitan area.
