The median income has shown an upward trend, increasing from $42,499 in 2013 to $56,799 in 2022, representing a 33.6% increase over nine years. This growth in median income correlates with the shift towards a completely white population, suggesting a possible relationship between the demographic homogenization and economic improvement.

The population has fluctuated significantly, peaking at 747 in 2019 and then declining to 465 in 2022. This population decrease of 37.8% in three years is substantial and may indicate underlying economic or social issues not immediately apparent in the income data.

The trend towards increased racial homogeneity in Ferris goes against the national trend of increasing diversity in many communities across the United States.

Based on the observed trends, it seems likely that Ferris will continue to be categorized as a "Low Diversity" community in the near future. The complete dominance of the white population and the disappearance of other racial groups suggest that this demographic makeup is likely to persist.

Economically, if the trend continues, we might see further increases in median income. However, the sharp population decline is a significant concern. If this trend continues, it could lead to challenges such as a shrinking tax base and potential difficulties in maintaining local services and infrastructure.

Given the current trends, Ferris is unlikely to transition into a new diversity category. However, if the population decline continues alongside rising incomes, a new category might be needed to capture the dynamics of shrinking, economically improving, racially homogeneous small towns.

This analysis is based on the available data, which has limitations, particularly in terms of racial data for some years. A more comprehensive understanding would require additional information about local economic conditions, migration patterns, and regional trends.