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Demographic and Economic Trends in North Hyde Park: A Study of Racial Composition and Income Growth
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
North Hyde Park in Tampa, Florida, is a predominantly White neighborhood with 69% of the population identifying as White in 2022. The area has experienced economic growth over the past decade, with median income increasing from $53,985 in 2013 to $75,627 in 2022. The neighborhood is located near the University of Tampa and has undergone rapid redevelopment, attracting young professionals and students.
North Hyde Park has maintained its status as a White Majority community from 2013 to 2022, but there have been changes in its racial composition. The White population decreased slightly from 71% in 2013 to 69% in 2022. The Hispanic population increased from 12% to 16%, while the Asian population grew from 2% to 4%. The Black population decreased from 12% to 9% during this period.
The neighborhood has experienced substantial economic growth, with median income rising by approximately 40% from 2013 to 2022. The population increased from 10,797 in 2013 to 14,701 in 2022, a growth of about 36%. The rapid income growth, particularly the increase to $91,630 in 2021 before settling at $75,627 in 2022, may indicate a period of intense gentrification followed by a slight correction.
The trends observed in North Hyde Park are similar to patterns seen in many urban areas across the United States, where inner-city neighborhoods near universities or downtown areas undergo significant redevelopment and demographic shifts. The increasing Hispanic population reflects national trends of growing Hispanic communities in urban areas.
North Hyde Park's economic growth outpaces the national average. The United States saw median household income rise from $51,939 in 2013 to $70,784 in 2021, a growth of about 36%. This indicates that North Hyde Park is experiencing more rapid economic development than the national average.
The neighborhood's proximity to the University of Tampa likely contributes to its dynamic nature, attracting a diverse student population and young professionals. This pattern is common in university-adjacent neighborhoods across the country, often leading to tensions between long-term residents and newer, more affluent arrivals.
North Hyde Park is transitioning from a predominantly White Majority area to a more diverse, economically vibrant neighborhood. While not yet reaching the threshold for High Diversity, the trends suggest a continued move in that direction, coupled with significant economic growth that may bring both opportunities and challenges for community cohesion and affordability.
