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Demographic and Economic Analysis of Five Points: A Low Diversity Neighborhood with White Majority
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Five Points, a neighborhood in Raleigh, North Carolina, is classified as a "Low Diversity" community with a "White Majority." As of 2022, 89% of the population identifies as white. The neighborhood's population has grown over the past decade, reaching 9,249 residents in 2022. Five Points has a high median income of $120,948 in 2022, which is above the national average. The area is known for its historic charm and early 20th-century homes.
Over the past decade, Five Points has maintained its "Low Diversity" status with a "White Majority." The percentage of white residents decreased from 94% in 2019 to 89% in 2022. The Hispanic population increased from 0% in 2015 to 6% in 2022. The black population decreased from 8% in 2013 to 2% in 2022. The percentage of residents identifying as two or more races increased from 0% in 2018 to 3% in 2022. Despite these changes, Five Points remains in the "Low Diversity" classification.
The neighborhood has experienced significant economic growth. From 2013 to 2021, the median income increased from $95,128 to $141,470, a 48.7% increase. However, there was a decrease to $120,948 in 2022. The population grew from 7,946 in 2010 to 9,249 in 2022, a 16.4% increase. These trends suggest that as the neighborhood has become more affluent, it has also become slightly more diverse, while remaining predominantly white.
The demographic trends in Five Points differ from national trends. While the U.S. has been moving towards greater diversity, Five Points has maintained its low diversity status. The slight increase in Hispanic and multiracial populations aligns with broader national demographic shifts.
The neighborhood's economic growth exceeds national averages, with its median income far above the U.S. median household income of $70,784 in 2021. This indicates that Five Points is an affluent enclave within Raleigh and potentially within North Carolina.
The combination of high income, low diversity, and slight increases in minority populations may indicate that Five Points is at the early stages of becoming a "Transitional Community." However, this transition is occurring at a slower pace compared to many urban areas in the United States. The neighborhood's ability to maintain its character while slowly diversifying may be attributed to its historic appeal and high property values, which can act as barriers to rapid demographic changes.
