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Demographic Analysis of Zip Code 69029: Predominantly White Population in Farnam, Nebraska
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The zip code 69029 in Farnam, Nebraska, is classified as having "Low Diversity" as of 2022. The population is 95% white. The median income is $71,423, and the population has decreased to 287 residents in 2022.
From 2013 to 2022, Farnam maintained a "Low Diversity" classification. The white population remained the majority, ranging between 95% and 97%. Minor shifts occurred in other racial categories, with the Hispanic population fluctuating between 1% and 3%, and the two or more races category consistently at 1-2%. The Native American population appeared sporadically at 1% in some years.
The median income in Farnam showed an overall positive trend from 2013 to 2022. In 2013, it was $60,052, increasing to $65,471 in 2017, $74,265 in 2021, and slightly decreasing to $71,423 in 2022. This represents an overall increase of about 19% from 2013 to 2022. Concurrently, the population decreased from 327 in 2013 to 287 in 2022, a decline of about 12%.
The inverse relationship between population decline and income growth suggests that remaining residents may be experiencing improved economic conditions. This could be due to increased job opportunities, higher-paying jobs, or changes in the local economy.
Farnam's population decline aligns with the broader trend of rural depopulation common in many parts of the United States, particularly in the Midwest. The increase in median income despite population decline could indicate that the area is retaining or attracting higher-income residents. The persistent low diversity in Farnam contrasts with national trends towards increasing diversity in many parts of the country.
In conclusion, Farnam has experienced some economic improvements over the past decade, while its demographic composition has remained largely stable. The combination of rising incomes and declining population presents both opportunities and challenges for the future development and sustainability of this rural Nebraska community.
