Terrace Gardens, a neighborhood in Sarasota, Florida, exhibits characteristics of a "White Majority" community with moderate diversity. As of 2022, the white population comprises 78% of the residents, while other racial groups, particularly Black and Hispanic populations, have a notable presence. The neighborhood's median income of $59,145 in 2022 suggests a middle-class economic status. Terrace Gardens has experienced significant fluctuations in both population and income over the past decade, indicating a dynamic and evolving community landscape.

Over the past decade, Terrace Gardens has maintained its status as a "White Majority" community, but with notable changes in its diversity profile. In 2013, the neighborhood could be categorized as having "Low Diversity," with 93% of the population being white. However, by 2022, it had transitioned to a more moderately diverse community. The Black population has seen the most significant increase, rising from 3% in 2013 to 13% in 2022. The Hispanic population has also grown, from negligible levels in 2013 to 8% in 2022. These shifts suggest a trend towards a "Transitional Community," with increasing racial diversity over time.

The median income in Terrace Gardens has fluctuated considerably over the years, showing no clear upward or downward trend. The highest median income was recorded in 2015 at $71,851, while the lowest was in 2016 at $48,718. These fluctuations could be related to the changing demographic composition of the neighborhood. Periods of increased diversity seem to coincide with lower median incomes. For example, the sharp increase in the Black population from 3% in 2019 to 17% in 2020 corresponded with a drop in median income from $67,786 to $59,141. This pattern suggests that the influx of minority groups may be associated with periods of economic adjustment in the neighborhood.