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Demographics
Population
Median Income
Racial Distributions
Zip code 24445 in Hot Springs, Virginia, is classified as having "Low Diversity" as of 2022. The population is predominantly white, comprising 91% of the total. The current median income is $68,177, showing an overall increasing trend over the past decade despite a slight decrease from the previous year.
From 2013 to 2022, the area has consistently maintained its "Low Diversity" status. The white population has remained the dominant racial group, consistently comprising over 85% of the total population. Minor shifts in minority populations have occurred. The Hispanic population increased from 0% in 2013 to 5% in 2022, potentially indicating the beginning of a slow "Transitional Community" trend. The Black population has remained relatively stable, fluctuating between 2-4% throughout the decade. In 2022, an "Other" racial category appeared at 1%, suggesting a slight increase in diversity. The percentage of individuals identifying as two or more races decreased from a peak of 7% in 2017 to 0% in 2022, contradicting the national trend of increasing multiracial identification.
The area's median income has shown significant fluctuations but an overall upward trend. From $56,708 in 2013 to $68,177 in 2022, there was a 20% increase over the decade. The highest median income was recorded in 2020 at $70,576, coinciding with a slight increase in racial diversity. Notable income dips occurred, particularly in 2016 ($51,100), followed by a sharp increase in 2017 ($69,111). Population trends have been relatively stable, with minor fluctuations between 2,800 and 3,200 residents over the decade.
The area's persistent "Low Diversity" status contrasts with national trends towards increasing diversity in many parts of the United States. The growth in the Hispanic population, while small, aligns with broader national trends of increasing Hispanic representation across various regions. The income growth over the decade is positive, potentially indicating economic development in the area. The stability in population suggests that the area is neither experiencing rapid growth nor significant decline, which can be positive for community stability but may indicate limited economic expansion.
Hot Springs remains a predominantly white community with low diversity. Subtle demographic shifts and overall positive income trends suggest a slowly evolving socio-economic landscape. The community appears to be stable with gradual changes, rather than experiencing rapid demographic or economic transformations.