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Demographics
Population
Median Income
Racial Distributions
The zip code 07420 in Wanaque, New Jersey, is classified as a "White Majority" community with increasing diversity as of 2022. The area has a population of 5,334 and a median household income of $99,424, indicating a relatively affluent suburban setting.
Wanaque has been transitioning from a "Low Diversity" community towards becoming a "Moderate Diversity" area over the past decade, while maintaining its "White Majority" status. The white population decreased from 73% in 2013 to 64% in 2022, while other racial groups, particularly Hispanic and Asian populations, experienced significant increases.
The Hispanic population showed the most substantial growth, rising from 14% in 2013 to 22% in 2022. This trend suggests that Wanaque could be classified as a "Transitional Community," with increasing diversity becoming more apparent over time.
The Asian population also experienced growth, increasing from 8% in 2013 to 7% in 2022, with some fluctuations in between. The percentage of residents identifying as two or more races increased from negligible levels to 5% by 2022, further contributing to the area's growing diversity.
The median household income in Wanaque has shown overall growth, increasing from $103,079 in 2013 to $99,424 in 2022. While there have been fluctuations, including a dip to $89,017 in 2016, the general trend indicates economic stability and growth. A significant spike in median income to $114,599 occurred in 2021, possibly related to pandemic-era economic shifts.
The population has remained relatively stable over the decade, with minor fluctuations. It grew from 4,710 in 2013 to 5,334 in 2022, suggesting a gradual influx of new residents, potentially attracted by the area's economic opportunities and changing demographic makeup.
The demographic shifts observed in Wanaque align with broader national trends of increasing diversity in suburban areas. Many suburbs across the United States have been experiencing similar transitions, with growing Hispanic and Asian populations contributing to more diverse communities.
The economic resilience of the area, as evidenced by the generally increasing median income, is noteworthy. This trend suggests that the increasing diversity has not led to economic decline. Instead, the area appears to be maintaining its economic strength while becoming more diverse, potentially indicating successful integration of new residents into the local economy.
The stability in population growth, coupled with increasing diversity and rising incomes, suggests that Wanaque may be an attractive destination for upwardly mobile minority families seeking suburban lifestyles. This pattern is consistent with national trends of minority middle-class expansion and suburbanization.
Wanaque represents a "Transitional Community" that is gradually evolving from a predominantly white, low-diversity area to a more diverse suburban community. This transition has been accompanied by economic stability and growth, suggesting a positive integration of new demographic groups into the local social and economic fabric. As this trend continues, it will be interesting to observe whether the area moves towards "Moderate Diversity" or "High Diversity" status in the coming years, and how this might further impact local economic and social dynamics.