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Demographic and Economic Trends in Oakland Triangle: A Low Diversity Neighborhood with Predominant White Population
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Oakland Triangle, a neighborhood in Lafayette, Indiana, exhibits characteristics of Low Diversity, with a predominant White population of 84% in 2022. The area has experienced fluctuations in median income over the past decade, with a notable increase to $64,431 in 2021 before returning to lower levels in 2022. This neighborhood's proximity to Purdue University likely influences its demographic and economic dynamics.
Over the past decade, Oakland Triangle has maintained its status as a Low Diversity area with a White Majority. The White population percentage has fluctuated, reaching its lowest point of 80% in 2021 before increasing to 84% in 2022. The Black population showed variability, peaking at 15% in 2018 but declining to 7% by 2022. The Hispanic population demonstrated the most significant growth, increasing from 2% in 2014 to 14% in 2020, before settling at 8% in 2022. These shifts suggest a trend towards slightly increased diversity, though not enough to change the overall categorization from Low Diversity.
The median income in Oakland Triangle has shown considerable volatility. From 2013 to 2015, it remained relatively stable around $46,000. In 2016-2017, there was a sharp decline to around $33,000. In 2018, it recovered to $46,261. Another decline occurred in 2019-2020 to $34,820. In 2021, there was a dramatic increase to $64,431, followed by a return to $34,820 in 2022. These economic fluctuations coincide with demographic shifts. The increase in Hispanic population from 2015 to 2020 correlates with periods of lower median income. The spike in income in 2021 aligns with a slight increase in diversity, potentially indicating an influx of higher-earning diverse residents.
Population trends show a steady decline from 900 in 2010 to 546 in 2022, which could be attributed to various factors such as changing housing patterns or shifts in the student population due to its proximity to Purdue University.
Oakland Triangle has maintained its Low Diversity status. This could be influenced by its status as a college town neighborhood, where student populations can significantly impact demographics and economic indicators. The economic volatility observed in Oakland Triangle is more pronounced than typical national trends, possibly reflecting the unique economic ecosystem of a university-adjacent neighborhood. The dramatic income fluctuations, particularly the 2021 spike, may be related to changes in the student-to-professional ratio or shifts in university-related employment.
In conclusion, while Oakland Triangle has maintained its Low Diversity classification over the past decade, subtle shifts towards increased diversity are evident. The economic indicators show significant volatility, likely influenced by its proximity to Purdue University and the changing composition of its resident population. These trends suggest a neighborhood in flux, balancing between its established demographic character and emerging diversity, all within the context of a dynamic university-influenced economic environment.
