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Demographic and Economic Analysis of Prospector Neighborhood: White Majority with Increasing Asian Population
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
The Prospector neighborhood in Park City, Utah, maintains a white majority demographic composition. In 2022, 64% of the population identified as white. The area has experienced economic growth over the past decade, with median income increasing from $67,366 in 2013 to $108,513 in 2022. Prospector's proximity to Park City's ski resorts likely influences its demographic and economic trends.
From 2013 to 2022, Prospector consistently maintained a white majority status, with some fluctuations. In 2019, the white population decreased to 50%, briefly approaching a majority-minority classification. The Hispanic population has remained the second-largest group, representing approximately 30-40% of the population. This indicates a moderate diversity element within the overall white majority context.
The Asian population has shown significant growth, increasing from 0% in 2013 to 7% in 2022, with a peak of 11% in 2020. This trend suggests a gradual diversification of the neighborhood, though not enough to shift the overall classification from white majority.
The median income in Prospector has increased substantially, rising from $67,366 in 2013 to $114,116 in 2021, before decreasing slightly to $108,513 in 2022. This economic growth coincides with the maintenance of the white majority and the gradual increase in Asian residents. The period of lowest white population percentage in 2019 corresponded with a significant increase in median income from $88,437 in 2018 to $108,015 in 2019.
The economic growth in Prospector exceeds national trends. Between 2013 and 2021, Prospector's median income increased by over 69%, compared to the U.S. median household income growth of about 10% (adjusted for inflation). This growth likely reflects Park City's status as a desirable resort town.
The demographic composition of Prospector, with its stable white majority and significant Hispanic population, is somewhat typical for a Utah community. However, the growing Asian population and high median income differentiate it from many other areas in the state. This may reflect its appeal to high-earning professionals in the tourism and tech industries.
Prospector represents a white majority neighborhood with moderate diversity, experiencing rapid economic growth. While not classified as a transitional community in terms of racial makeup, the gradual increase in Asian residents and the economic changes suggest ongoing evolution in the neighborhood's demographic and socioeconomic landscape.
