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Demographics
Population
Median Income
Racial Distributions
Venable, a neighborhood in Charlottesville, Virginia, exhibits characteristics of a White Majority community with Moderate Diversity. As of 2022, the white population constitutes 68% of the neighborhood, with significant representation from Asian (10%) and Black (10%) communities. The median income of $57,486 in 2022 suggests a middle-class demographic. Venable is known for its proximity to the University of Virginia, which likely influences its demographic makeup and economic patterns.
Over the past decade, Venable has consistently maintained its status as a White Majority community. In 2013, the neighborhood showed Low Diversity with whites comprising 73% of the population. By 2020, it transitioned to Moderate Diversity, with the white population decreasing to 67% and other racial groups gaining representation. The Asian population has remained relatively stable at around 10-12% throughout the decade. The Black population has fluctuated between 7-10%, showing a slight increase in recent years. The Hispanic population has grown steadily from 4% in 2013 to 6% in 2022, indicating a Transitional Community aspect. These shifts suggest a gradual move towards greater diversity.
The neighborhood has experienced significant economic changes correlating with its demographic shifts. Median income rose from $35,942 in 2013 to $61,921 in 2021, a 72% increase. This income growth coincides with the increasing diversity, suggesting that the influx of diverse populations may be linked to economic opportunities or changing property values. The population has remained relatively stable, fluctuating between 5,500 and 6,200 residents, indicating a consistent demand for housing in the area. The substantial income increase could be attributed to an influx of higher-earning professionals or changes in the local job market.
Venable's trends align with broader national patterns. The gradual increase in diversity reflects a nationwide trend of growing multiculturalism in urban and university-adjacent areas. The significant income growth outpaces national averages, suggesting Venable may be part of a "knowledge economy" hub, typical of university towns. The stable population despite rising incomes could indicate gentrification pressures, a common phenomenon in desirable urban neighborhoods across the U.S.
Venable presents a picture of a gradually diversifying, economically ascending neighborhood. Its proximity to the University of Virginia likely plays a crucial role in these dynamics, attracting a diverse, educated population and driving economic growth. The rapid income increases may raise concerns about affordability and community change, issues that many similar neighborhoods across the country are grappling with.