The median income in the area has shown an upward trend over the past decade, increasing from $50,770 in 2013 to $61,222 in 2022. This represents a growth of about 20.6% over nine years. The most significant period of growth occurred between 2017 and 2019, with the median income rising from $55,902 to $62,213.

The population has fluctuated over this period, with a low of 3,401 in 2016 and a high of 3,843 in 2021. The current population of 3,621 in 2022 represents a slight decrease from the previous year but is still higher than most years in the past decade.

There does not appear to be a strong correlation between the minor demographic shifts and economic trends. The consistent increase in median income has occurred alongside a relatively stable racial composition, suggesting that economic growth in this area is not directly tied to changes in diversity.

This zip code appears to be maintaining its homogeneous racial composition, contrasting with many urban and suburban areas that have experienced more significant demographic shifts over the same period.

The income growth in this zip code, while positive, is relatively modest compared to some rapidly growing urban areas. Rural and small village areas often experience slower economic and demographic changes compared to larger urban centers.

The zip code 14710 in Panama, New York, presents a picture of demographic stability with gradual economic improvement. While it remains a "Low Diversity" area, there are slight indications of potential future changes, though these are currently too minor to suggest a significant shift in the community's composition. The area's economic growth, while steady, has not been accompanied by notable changes in racial demographics, setting it apart from national trends towards increasing diversity in many regions.