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Demographic Analysis of Zip Code 14767: A Study of Racial Composition in Panama, New York
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The zip code 14767 in Panama, New York, is categorized as a "Low Diversity" area with a "White Majority" as of 2022. The population is 99% white, with 1% identifying as two or more races. This demographic composition has remained stable over the past decade, with minor fluctuations. The median income in 2022 was $59,786, showing a modest increase from previous years.
Throughout the 2013-2022 period, Panama has maintained its "Low Diversity" status with a "White Majority." The white population has ranged from 96% to 99% during this time frame, indicating minimal racial demographic shifts. Small fluctuations in the Hispanic population occurred, peaking at 3% in 2019 and decreasing to 0% in recent data. The emergence of a small 1% two or more races category in recent years suggests a slight trend towards increased diversity, but this change is minimal and does not alter the overall demographic categorization of the area.
The median income in Panama has shown an upward trend over the past decade, increasing from $46,510 in 2013 to $59,786 in 2022, representing a growth of 28.5% over nine years. A significant increase in median income occurred between 2018 ($52,091) and 2019 ($57,480), followed by continued growth to a peak of $62,255 in 2021, before a slight decrease in 2022. The population has grown modestly, increasing from 2,134 in 2013 to 2,347 in 2022, a growth of about 10%. This population growth, combined with the increase in median income, indicates a generally positive economic trajectory for the area.
The demographic composition of Panama contrasts with national trends towards increasing diversity. While many urban and suburban areas in the United States have experienced significant increases in racial and ethnic diversity over the past decade, Panama has maintained a highly homogeneous population.
The income growth in Panama appears to be roughly in line with national trends. The U.S. median household income increased from $51,939 in 2013 to $70,784 in 2021, representing a growth of about 36%. Panama's growth of 28.5% over a similar period is comparable, though slightly lower than the national average.
The stability of racial demographics in Panama, combined with steady economic growth, suggests a community that has experienced limited external influences or significant migration patterns. This stability may indicate strong community ties and potentially limited exposure to broader national demographic shifts. However, it also raises questions about the area's ability to attract a diverse workforce or adapt to changing national demographics in the long term.
In conclusion, Panama has experienced positive economic growth over the past decade, while its demographic composition has remained largely unchanged, maintaining its status as a low-diversity, white-majority community. This stability in racial makeup, coupled with steady economic improvements, indicates a community that has seen gradual positive change in living standards without significant alterations to its fundamental demographic structure.
