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Demographic Analysis of Zip Code 47385: Predominantly White Population and Economic Growth
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The zip code 47385 in Spiceland, Indiana, is classified as a "Low Diversity" community as of 2022. The population is 98% white, with a median income of $68,357, which has increased significantly over the past decade.
Over the past ten years, Spiceland has maintained its "Low Diversity" classification. The white population has consistently comprised between 96% and 99% of the total population. Minor fluctuations have been observed in the percentage of residents identifying as two or more races, reaching a maximum of 3% between 2018 and 2020. The community's demographic composition has remained stable, indicating little influx of diverse populations.
Despite the lack of racial diversity, economic changes have been notable. The median income has increased from $55,171 in 2013 to $68,357 in 2022, representing a 23.9% growth over nine years. This increase has generally outpaced inflation during this period.
The population of Spiceland has fluctuated, peaking at 2,104 in 2014, declining to 1,518 in 2019, and then increasing to 1,851 in 2022. These population changes do not appear to strongly correlate with income trends, suggesting other factors may influence population movement and economic growth.
A significant increase in median income occurred from 2019 to 2021, rising from $55,551 to $74,932. This rapid growth coincided with a substantial population increase, potentially indicating an influx of higher-income residents or a significant economic boost to the area.
The persistent lack of racial diversity in Spiceland contrasts with national trends towards increasing diversity in many areas of the United States. However, the observed economic growth, particularly in recent years, aligns with broader patterns of economic recovery and growth seen in many parts of the country post-2008 recession and during the COVID-19 pandemic recovery period.
The stability of the racial composition in Spiceland may suggest limited migration or integration from other racial groups. This could be due to factors such as geographic isolation, limited job market diversity, or cultural factors that maintain the existing demographic structure.
In conclusion, while Spiceland has experienced minimal racial demographic shifts over the past decade, maintaining its status as a "Low Diversity" community, it has seen significant economic growth. This suggests that the area has increased prosperity without significantly altering its racial composition, potentially through local economic development initiatives or by benefiting from broader economic trends.
