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Demographic Analysis of Zip Code 56273: Predominantly White Rural Area with Economic Growth
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Zip code 56273 in New London, Minnesota, is classified as a "Low Diversity" area as of 2022. The population is 96% white, with a median income of $74,788. This rural area has a population density of approximately 38 people per square mile.
From 2013 to 2022, the zip code maintained its "Low Diversity" status. The white population remained above 95% throughout this period, with only minor fluctuations. Slight increases in Hispanic and multiracial populations occurred, but these changes did not significantly alter the overall demographic composition.
The community's racial composition has remained stable, suggesting minimal in-migration from diverse populations. This stability is common for rural areas in the Midwest. Despite demographic consistency, notable economic changes have occurred. The median income increased from $61,623 in 2013 to $74,788 in 2022, representing a 21% growth over nine years and outpacing inflation.
A significant spike in median income to $84,622 occurred in 2021, followed by a decrease in 2022. This fluctuation could be attributed to pandemic-related economic shifts or changes in local industries. The population has remained relatively stable, with a slight decrease from 4,373 in 2013 to 4,316 in 2022.
The demographic stability of this zip code contrasts with national trends of increasing diversity. However, the economic growth aligns with broader trends of economic recovery and growth in the post-2008 recession era. New London's ability to maintain its population while significantly increasing median income is noteworthy, potentially indicating successful local economic development strategies or the presence of stable, well-paying industries.
The lack of significant demographic change, despite economic growth, might suggest limited opportunities for or interest from diverse populations in moving to the area. This could be due to various factors, including the rural nature of the community, existing social networks, or limited diversity in job sectors. Zip code 56273 presents a case of economic growth without corresponding demographic change, highlighting the complex interplay between economic development and population diversity in rural American communities.
