The median income in Coral Way has grown over the past decade, rising from $48,414 in 2013 to $63,664 in 2022, an increase of about 31%. This economic improvement correlates with the slight diversification of the neighborhood's racial composition. The rising incomes might be attracting a more diverse population, particularly from the White and Asian demographics.

The population has remained relatively stable, growing from 43,304 in 2013 to 45,124 in 2022, a modest increase of about 4%. This suggests that while the neighborhood is experiencing economic growth, it's not seeing a significant influx of new residents.

The demographic trends in Coral Way reflect broader patterns seen in many urban areas across the United States, where traditionally homogeneous neighborhoods are slowly diversifying. However, the pace of change in Coral Way appears to be slower than in many other urban areas.

The economic growth in Coral Way outpaces the national average. While the U.S. median household income grew by about 20% between 2013 and 2022, Coral Way's grew by 31%. This suggests that the neighborhood is becoming increasingly affluent relative to national trends.

The stability of the Hispanic majority in Coral Way, despite some decline, is characteristic of many neighborhoods in Miami, which has long been a hub for Hispanic, particularly Cuban-American, culture. However, the gradual increase in other racial groups, especially White and Asian populations, may indicate that Coral Way is slowly transitioning towards a more diverse community composition, albeit at a slower pace than many other urban areas in the U.S.

While Coral Way remains a Hispanic Majority, Low Diversity community, subtle shifts in its demographic makeup coupled with significant economic growth suggest a neighborhood in the early stages of transition. These changes, if continued, may lead to a more diverse and economically robust community in the coming years, potentially altering the cultural and social fabric of this historic Miami neighborhood.