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Demographics
Population
Median Income
Racial Distributions
Silverwood, a neighborhood in Charlotte, North Carolina, is characterized as a Majority-Minority community with a Black Majority. As of 2022, the Black population comprises 52% of the neighborhood, with other minority groups accounting for an additional 29%. The median income in 2022 is $54,542, indicating a working to middle-class demographic. Silverwood's proximity to the University Research Park is noteworthy.
Silverwood has experienced significant demographic changes over the past decade. In 2013, it was classified as a Black Plurality community with a 48% Black population. By 2015, it had transitioned to a Black Majority community, with the Black population reaching 60%. During this period, the Hispanic population decreased from 26% to 11%.
From 2015 to 2022, Silverwood maintained its Black Majority status, albeit with fluctuations. The Hispanic population increased from 11% in 2015 to 21% in 2022, indicating a trend towards increased diversity. The White population remained relatively stable, ranging from 20-24% throughout the decade. The population identifying as two or more races increased from 3% in 2013 to 7% in 2022, suggesting a gradual increase in diversity.
The median income in Silverwood has fluctuated over the years, showing a general downward trend. In 2013, the median income was $56,774, peaking at $61,404 in 2017, before declining to $54,542 in 2022. This represents a 4% decrease in median income over the decade. Periods of higher racial diversity correlate with lower median incomes, while years of stronger Black Majority saw higher median incomes.
Silverwood's population has grown significantly, from 4,209 in 2013 to 5,466 in 2022, a 30% increase. This population growth, combined with declining median income, may indicate an influx of lower-income residents or younger families beginning their careers.
The demographic shifts in Silverwood reflect broader trends observed in many urban areas across the United States, where neighborhoods are becoming increasingly diverse. The growth in the Hispanic population and those identifying as two or more races aligns with national demographic trends. However, the maintenance of a Black Majority in Silverwood contrasts with some national trends of gentrification in urban areas.
The economic trends in Silverwood, particularly the slight decline in median income, may reflect broader challenges faced by working and middle-class communities nationwide, including wage stagnation and increasing cost of living. The neighborhood's proximity to the University Research Park may provide some economic stability, but the declining median income suggests residents may be facing economic pressures.
Silverwood is a dynamic neighborhood experiencing gradual diversification while maintaining a strong Black community presence. The economic challenges reflected in the declining median income, coupled with population growth, suggest a community in transition, potentially moving towards greater diversity but also facing socio-economic pressures that warrant attention from local policymakers and community leaders.