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Demographic Analysis of Zip Code 55423: Moderate Diversity and Racial Composition
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Zip code 55423 in Richfield, Minnesota, is classified as a "White Majority" community with "Moderate Diversity" as of 2022. The white population comprises 60% of the total, with Hispanic (18%) and Black (11%) populations contributing significantly to its diversity. The median income of $73,337 in 2022 indicates a middle-class suburban area, showing a decrease from the previous year.
Over the past decade, this zip code has maintained its "White Majority" status while trending towards increased diversity. The white population declined slightly from 62% in 2013 to 60% in 2022, while Hispanic and Black populations grew moderately. The community has transitioned from "Low Diversity" to "Moderate Diversity" during this period, with three racial groups (White, Hispanic, and Black) each representing over 10% of the population by 2022.
The median income has shown an overall upward trend, increasing from $60,334 in 2013 to $73,337 in 2022, a 21.6% rise over nine years. This growth suggests improving economic conditions for residents. However, there was a notable fluctuation, with income peaking at $81,557 in 2021 before decreasing in 2022. The population grew modestly from 35,830 in 2013 to 37,049 in 2022, a 3.4% increase.
The demographic shifts in this zip code align with broader national trends of increasing diversity in suburban areas. Many U.S. suburbs have experienced similar transitions from predominantly white communities to more diverse neighborhoods over recent decades.
The income growth in this area outpaces the national average, which saw about a 13% increase in median household income from 2013 to 2022. This suggests that Richfield may be experiencing stronger economic growth or attracting higher-income residents compared to national averages.
The community's evolution towards greater diversity while maintaining a white majority is characteristic of many transitioning suburbs across the United States. These areas often see gradual increases in minority populations, particularly Hispanic and Black residents, as they become more attractive to a wider range of families seeking suburban amenities with urban proximity.
Zip code 55423 in Richfield, Minnesota, exemplifies a "Transitional Community" moving towards greater racial diversity while experiencing overall economic growth. This pattern of change reflects broader national trends in suburban demographic evolution and suggests a dynamic, evolving community adapting to changing societal and economic conditions.
