Zip code 73540 in Faxon, Oklahoma, is classified as a "Low Diversity" community as of 2022, with a white population of 75%. The area has experienced significant economic growth over the past decade, with median income increasing from $58,605 in 2013 to $82,636 in 2022, representing a 41% increase.

Over the past decade, Faxon has maintained its status as a "Low Diversity" community, with the white population remaining the dominant racial group. However, subtle shifts towards increased diversity have occurred. The white population percentage has decreased slightly from 83% in 2013 to 75% in 2022. There has been a gradual increase in the Native American population, rising from 3% in 2013 to 4% in 2022, with a peak of 7% in 2020 and 2021. The Hispanic population has fluctuated, peaking at 12% in 2017 before settling at 8% in 2022. The "Two or More Races" category has seen significant growth, increasing from 5% in 2013 to 8% in 2022, suggesting a trend towards more mixed-race families or individuals.

The demographic shifts have coincided with substantial economic growth. Median income has increased by 41% from 2013 to 2022, outpacing inflation. The most significant income growth occurred between 2019 and 2021, with a 23% increase in just two years. Population has fluctuated, with a notable increase from 607 in 2010 to a peak of 801 in 2015, before settling at 729 in 2022.