Oakville, Connecticut, is classified as a "Low Diversity" community with a White Majority. In 2022, 78% of its population identified as white. The neighborhood has undergone a gradual increase in diversity over the past decade. The median income in Oakville has fluctuated, with a significant increase in 2021 followed by a substantial decrease in 2022. The area is characterized by its historic waterfront along the Naugatuck River, which has influenced the community's development.

From 2013 to 2022, Oakville maintained its "Low Diversity" status with a White Majority. The white population decreased from 91% in 2013 to 78% in 2022. The Hispanic population increased from 3% in 2013 to 15% in 2022. The "Two or More Races" category rose from 0% to 4% during this period. These changes indicate a gradual trend towards increased diversity, although the community has not yet reached the criteria for a "Transitional Community".

The median income in Oakville has experienced notable fluctuations. It reached a peak of $85,297 in 2021, followed by a sharp decline to $63,949 in 2022, the lowest in the recorded period. These economic shifts coincide with demographic changes, suggesting a complex relationship between economic trends and demographic composition.