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Demographics
Population
Median Income
Racial Distributions
Sheridan Hollow, a neighborhood in Albany, New York, is characterized as a Black Majority community with moderate diversity. In 2022, the Black population comprised 57% of residents, while White residents accounted for 28%. The neighborhood has experienced significant economic growth, with median income increasing from $17,452 in 2015 to $49,707 in 2022. Sheridan Hollow is known for its history and ongoing urban renewal efforts, including affordable housing development and community revitalization projects.
Over the past decade, Sheridan Hollow has maintained its Black Majority status, with some fluctuations. The Black population decreased from 63% in 2013 to 46% in 2017, before stabilizing at 57% in 2022. The White population increased gradually from 18% in 2013 to 28% in 2022. The Hispanic population grew from 8% in 2013 to 15% in 2019, then decreased to 8% in 2022. Asian and multiracial populations have shown slight increases. These shifts indicate a trend towards increased diversity while maintaining a Black majority.
The economic trajectory of Sheridan Hollow has been positive. Median income rose from $15,354 in 2013 to $49,707 in 2022, a 224% increase. This economic growth correlates with demographic shifts, particularly the increase in White residents and stabilization of the Black majority. The rising incomes suggest potential gentrification, attracting more diverse and affluent residents. The population grew from 1,652 in 2013 to 2,232 in 2022, a 35% increase, indicating increased neighborhood attractiveness.
The demographic and economic changes in Sheridan Hollow reflect broader trends seen in many urban areas across the United States. The gradual increase in diversity aligns with national demographic shifts. However, the retention of a Black majority distinguishes Sheridan Hollow from many gentrifying neighborhoods that often experience more dramatic racial shifts.
The substantial income growth in Sheridan Hollow outpaces national averages, suggesting targeted local development efforts or spillover effects from broader economic growth in the Albany area. This rapid economic transformation may bring challenges related to affordability and community preservation that are common in rapidly changing urban neighborhoods.
Sheridan Hollow presents a case of a historically Black neighborhood experiencing significant economic growth and gradual diversification while maintaining its core demographic character. The neighborhood's evolution reflects both local urban renewal efforts and broader national trends in urban development and demographic change.