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Demographic Analysis of Zip Code 32407: Transition from Low to Moderate Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
As of 2022, zip code 32407 in Panama City Beach, Florida, has a white majority population of 74% with significant diversity. Other racial groups, particularly Black and Hispanic populations, have notable representation. The median income in 2022 was $61,419, indicating a middle-class community, though this represents a decrease from the previous year.
Over the past decade, this zip code transitioned from low diversity to moderate diversity. In 2013, the white population was 85%, decreasing to 74% by 2022. The Black population experienced the most significant growth, increasing from 2% in 2013 to 11% in 2022. The Hispanic population remained relatively stable between 8-9% throughout the decade. The Asian population and those identifying as two or more races also saw modest increases.
The median income in the zip code increased from $55,863 in 2013 to $61,419 in 2022, an increase of about 10%. This growth was not linear, with a peak median income of $70,415 in 2021 before a significant drop in 2022. Periods of highest income growth appear to correlate with periods of increasing diversity. The population grew significantly from 8,620 in 2013 to 13,464 in 2022, a 56% increase.
The demographic shifts in this zip code align with broader national trends of increasing diversity in many communities across the United States. The growth in the Black population is noteworthy and may reflect broader patterns of migration or changing settlement preferences.
The economic fluctuations, particularly the sharp drop in median income from 2021 to 2022, might reflect broader economic challenges faced nationwide, such as the economic impacts of the COVID-19 pandemic and subsequent inflation.
The significant population growth in this area (56% over a decade) is much higher than the national average, which typically hovers around 7-8% per decade. This could indicate that Panama City Beach is an attractive destination for new residents, possibly due to economic opportunities or quality of life factors.
Zip code 32407 in Panama City Beach, Florida, exemplifies a community in transition. It is moving from low to moderate diversity, experiencing significant population growth, and undergoing economic changes. These trends suggest a dynamic community adapting to demographic shifts while navigating broader economic challenges.
