While these changes are modest, they suggest the early stages of a potential "Transitional Community," particularly with the growth in Hispanic and multiracial populations.

The median income in Waterloo has shown overall growth, albeit with some fluctuations: 1. 2013: $50,420 2. 2019: Peaked at $58,507 3. 2022: $55,790 This represents a 10.7% increase in median income over the decade, despite a recent decline from the 2019 peak. Notably, the population has decreased from 10,537 in 2013 to 9,833 in 2022, a 6.7% reduction.

The correlation between demographic shifts and economic trends is not strongly apparent. The modest increase in diversity has occurred alongside both income growth and population decline, suggesting that other factors may be more influential in the area's economic trajectory.

The trend towards increased diversity, albeit slow, aligns with broader national patterns of growing diversity in many communities. The population decline in Waterloo contrasts with the overall U.S. trend of population growth, potentially indicating local economic or social factors affecting retention and attraction of residents. The median income growth, while positive, appears to be slightly below the national average for the same period, which saw more substantial increases in many areas.

In conclusion, Waterloo (zip code 13165) remains a predominantly white, low-diversity community, but shows early signs of gradual demographic change. The economic picture is mixed, with modest income growth offset by population decline. These trends suggest a community in the early stages of transition, balancing traditional demographics with slowly emerging diversity and economic challenges. Future years will be crucial in determining whether these subtle shifts develop into more significant demographic and economic transformations.