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Demographic and Economic Trends in Corey Square: A Study of Racial Composition and Income Changes
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Corey Square, a neighborhood in Manchester, New Hampshire, exhibits characteristics of a "White Majority" community with moderate diversity. As of 2022, the white population constitutes 58% of the residents, while Hispanic residents form 29%. The neighborhood's median income is $36,140 in 2022. Corey Square has experienced fluctuations in both its demographic composition and economic indicators over the past decade.
From 2013 to 2022, Corey Square has maintained its status as a "White Majority" community. The white population decreased from 65% in 2014 to 58% in 2022. The Hispanic population increased from 23% in 2014 to 29% in 2022. The Asian population grew from 0% in 2013 to 7% in 2018-2019, then declined to 1% by 2022. The percentage of residents identifying as two or more races increased from 1% in 2013 to 7% in 2022. These trends suggest that Corey Square is evolving into a "Transitional Community."
The median income in Corey Square has shown volatility. It rose from $26,764 in 2013 to a peak of $39,123 in 2017, an increase of 46%. After 2017, it experienced fluctuations, dropping to $30,489 in 2019 before rising again to $39,491 in 2021. As of 2022, the median income stood at $36,140, showing a slight decline from the previous year but still 35% higher than in 2013.
These economic changes correlate with demographic shifts. The period of increasing diversity (2013-2018) coincided with overall income growth. The fluctuations in income post-2018 align with more rapid changes in racial composition, particularly the decline in Asian population and increase in Hispanic and multiracial residents.
The trend towards increasing diversity in Corey Square aligns with broader national trends of growing diversity in urban areas. The median income fluctuations may reflect broader economic cycles, but the overall increase since 2013 suggests some economic resilience in the face of demographic changes. The persistent "White Majority" status, despite increasing diversity, indicates that Corey Square may be changing more slowly than some other urban neighborhoods nationally.
Corey Square exemplifies a community in transition, balancing its traditional demographic makeup with increasing diversity. The economic volatility observed over the past decade may be partially attributed to these demographic shifts, as the community adapts to changing population dynamics. As Corey Square continues to evolve, it will be crucial to monitor how these demographic and economic trends interact and shape the neighborhood's future development and character.
