The median income in the zip code has increased steadily from $71,210 in 2013 to $80,900 in 2022, representing a growth of about 13.6% over nine years. This economic growth correlates with the demographic shifts. As the white population decreased, the median income increased, suggesting that the incoming diverse population is economically affluent. The stability of the Asian and Hispanic populations, combined with rising incomes, may indicate economic advancement within these communities. The increase in diversity coincides with income growth, potentially reflecting the economic contributions of a more diverse workforce.

The demographic trends in this zip code align with broader patterns of increasing diversity in many urban areas across the United States. The income growth in this area outpaces inflation, suggesting real economic improvement for residents. The maintenance of high diversity alongside economic growth could indicate that this area has successfully leveraged its multicultural character for economic benefit, a trend seen in other diverse urban areas.

Zip code 11417 in Queens presents a picture of a thriving, increasingly diverse community with steady economic growth. The area's ability to maintain its high diversity while increasing median income suggests a positive integration of various racial and ethnic groups into the local economy. As the community continues to evolve, it may transition into new categories within the diversity framework, particularly if it begins to show characteristics of a "Transitional Community" with even greater diversity in the coming years.