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Demographic and Economic Trends in Oakwood Hills: Transition from Black Majority to Increased Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Oakwood Hills, a neighborhood in Hollywood, Florida, is currently classified as a "Black Majority" community with a moderate median income. As of 2022, the neighborhood has a population of 2,164 and a median income of $49,675. Oakwood Hills has undergone significant demographic shifts over the past decade, transitioning from a predominantly Black community to one showing signs of increasing diversity.
In 2013, Oakwood Hills was categorized as a "Black Majority" community, with 58% of the population identifying as Black. This categorization remained consistent through 2021. However, the 2022 data shows a slight shift towards a "Moderate Diversity" classification. While the Black population remains the largest at 58%, there is a notable increase in Asian (7%) and Two or More Races (7%) categories, with the White population at 10% and Hispanic at 18%. This change suggests a transition towards a more diverse community composition.
The Hispanic population fluctuated over the years, peaking at 30% in 2020 before decreasing to 18% in 2022. This fluctuation, combined with the recent increases in Asian and multiracial populations, indicates that Oakwood Hills may be evolving into a "Transitional Community."
The median income in Oakwood Hills has shown significant volatility over the past decade. From 2013 to 2016, there was a decline in median income from $35,714 to $30,489. However, from 2020 onwards, there has been a marked increase, with the median income rising to $49,675 in 2022. This economic upswing coincides with the increasing diversity in the neighborhood, suggesting a possible correlation between demographic changes and economic improvement.
The population of Oakwood Hills has also fluctuated, with a general upward trend from 1,837 in 2013 to 2,164 in 2022. The peak population of 2,528 was recorded in 2021, coinciding with a period of increased median income.
The demographic shifts observed in Oakwood Hills align with broader trends seen in many urban areas across the United States. The increasing diversity, particularly the growth in Asian and multiracial populations, reflects national trends of growing diversity in metropolitan areas.
The economic improvements in recent years, especially the significant jump in median income from 2019 to 2020 (from $35,405 to $49,699), are notable. This could be indicative of changing economic opportunities in the area or an influx of higher-income residents, possibly related to the increasing diversity.
It is worth noting that while the Black population remains the majority, the increasing diversity and improving economic indicators suggest that Oakwood Hills may be experiencing gentrification or urban renewal. This could bring both opportunities and challenges for long-term residents, potentially affecting community dynamics and local culture.
Oakwood Hills appears to be in a state of transition, both demographically and economically. The neighborhood is moving from a predominantly Black community towards a more diverse composition, while simultaneously experiencing economic growth. These changes may have significant implications for community identity, local services, and future development in the area.
