Loading Content...
Demographic Analysis of Zip Code 02038: Racial Composition and Income Trends
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
Zip code 02038 in Franklin Town, Massachusetts, is classified as having Low Diversity as of 2022. The population is 86% white, indicating a strong Racial Majority. The median income in 2022 was $121,302, suggesting an affluent community with income levels significantly above the national average.
From 2013 to 2022, Franklin Town has undergone a gradual shift from extremely Low Diversity to slightly increased diversity, while remaining predominantly white. The white population decreased from 92% in 2013 to 86% in 2022, demonstrating a slow but consistent trend towards increased diversity.
The Asian population experienced the most significant growth, increasing from 4% in 2013 to 6% in 2022. The Hispanic population grew from 2% to 4% during this period. The Black population remained relatively stable at 1-2%. These changes indicate a slow transition towards a more diverse community, although it still does not meet the criteria for Moderate Diversity.
The median income in Franklin Town fluctuated over the past decade, showing an overall upward trend. It rose from $114,710 in 2013 to a peak of $138,544 in 2021, before declining to $121,302 in 2022. This overall increase in median income correlates with the gradual increase in diversity, potentially indicating that the area is attracting more affluent minorities.
The population grew modestly from 32,185 in 2013 to 32,917 in 2022, suggesting a stable and potentially desirable living environment. This population growth, combined with increasing diversity and rising incomes, indicates that Franklin Town may be becoming more attractive to a wider range of residents.
The demographic shifts in Franklin Town align with broader national trends of increasing diversity in suburban areas. However, the pace of change in this community appears slower than in many other suburban areas across the United States. The high median income and slow pace of diversification suggest that Franklin Town may be a relatively exclusive community with high barriers to entry for new residents.
The area's economic resilience, evidenced by the generally increasing median income over the decade, is notable, especially considering the economic challenges faced nationwide during the COVID-19 pandemic. This economic stability may be a factor in the community's ability to maintain its demographic composition while slowly becoming more diverse.
Franklin Town remains a predominantly white, affluent community with Low Diversity, but shows signs of a gradual transition towards greater diversity. This slow change, coupled with economic stability and growth, suggests a community that is evolving while maintaining its core characteristics. The future trajectory of Franklin Town's diversity and its impact on the economic and social fabric of the community remains a topic of interest.
