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Demographic Analysis of Zip Code 56307: Racial Composition and Economic Trends from 2013 to 2022
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
As of 2022, zip code 56307 in Albany, Minnesota, is classified as a "Low Diversity" community. The population is 96% white. This classification has remained consistent over the past decade, despite minor fluctuations in racial composition. The median income has increased, reaching $77,459 in 2022, indicating a stable economic environment.
Throughout 2013-2022, Albany maintained its "Low Diversity" status. The white population remained above 90%. The white population decreased from 99% in 2013 to 94% in 2021, then increased to 96% in 2022. The Black population increased from 0% in 2013 to 3% in 2021, then dropped to 0% in 2022. The Asian population increased slightly from 0% to 1% over the decade. The Hispanic population fluctuated between 1-2%. The "Two or More Races" category grew from 0% to 2% by 2022.
The median income in Albany showed an upward trend. It increased from $60,157 in 2013 to $77,459 in 2022, a growth of 28.8% over nine years. The most significant increase occurred between 2019 and 2020, from $73,022 to $78,032. There was a slight decrease from 2021 to 2022, from $79,373 to $77,459.
This income growth suggests economic stability and possibly improving living standards. Population trends show modest growth from 5,202 in 2013 to 5,391 in 2022, an increase of 3.6%. This indicates a stable community with slight growth.
The "Low Diversity" status of Albany is common for rural or small-town areas in the Midwest, which often have predominantly white populations. The gradual increase in diversity aligns with broader national trends. The steady increase in median income is a positive indicator, especially considering economic challenges in many rural areas. The stability of the population, with slight growth, contrasts with some rural areas that have experienced population decline.
Albany remains a "Low Diversity" community, with subtle signs of increasing diversity and consistent economic growth. These trends suggest a stable community that is slowly changing, potentially positioning itself for future growth and increased diversity.
