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Demographic and Economic Trends in Patrician Point: A Study of a Low Diversity, White Majority Neighborhood
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Patrician Point, a neighborhood in St. Petersburg, Florida, is classified as a Low Diversity community with a White Majority. As of 2022, 82% of the population identifies as white, with a median income of $121,181. The neighborhood is characterized by waterfront properties and exclusive residential areas.
Over the past decade, Patrician Point has maintained its status as a Low Diversity community with a White Majority. The percentage of white residents has slightly decreased from 85% in 2013 to 82% in 2022. The Hispanic population has increased from 10% in 2013 to 11% in 2022, and the Asian population has grown from 2% in 2013 to 3% in 2022. These changes indicate a gradual trend towards increased racial diversity.
The economic landscape of Patrician Point has undergone significant changes. The median income has increased from $92,366 in 2013 to $121,181 in 2022, representing a 31% increase over nine years. The neighborhood experienced income fluctuations, with a peak median income of $166,642 in 2021, followed by a decrease in 2022. The population has grown from 655 in 2013 to 757 in 2022, a 15.6% increase.
The economic trends correlate with the demographic shifts. The increasing median income may be attracting a more diverse, affluent population. The population growth, coupled with rising incomes, suggests that Patrician Point is becoming an increasingly desirable location for high-income individuals from various backgrounds.
Patrician Point remains less diverse than many urban areas in Florida, but its subtle shifts towards increased diversity align with broader national trends of suburban diversification. The neighborhood's high median income and low diversity contrast with many other areas of St. Petersburg and Florida, which have generally seen more rapid diversification.
The economic growth in Patrician Point outpaces both state and national averages, reflecting its status as an affluent enclave. This economic strength may be both a cause and effect of its demographic stability, attracting residents who can afford its high property values while potentially limiting accessibility for more diverse populations.
In conclusion, while Patrician Point remains a Low Diversity, White Majority community, subtle shifts in its demographic makeup and significant economic growth suggest a slow but steady evolution towards a more diverse and even more affluent neighborhood. These changes, though gradual, reflect broader national trends of suburban diversification and economic stratification.
