Colony Cove, a neighborhood in Jacksonville, Florida, exhibits characteristics of Moderate Diversity with a White Majority as of 2022. The white population comprises 66% of the community, with representation from Asian (8%), Black (10%), and Hispanic (8%) groups. The neighborhood's median income of $81,301 in 2022 suggests an upper-middle-class status. Colony Cove has experienced fluctuations in both its demographic composition and economic indicators over the past decade.

Colony Cove has undergone a transformation in its racial composition over the past decade. In 2013, the neighborhood had Low Diversity with a strong White Majority (80%). By 2022, it transitioned to Moderate Diversity, still maintaining a White Majority. This shift is characterized by a decreasing White population from 80% in 2013 to 66% in 2022, an increasing Asian population from 1% to 8%, a fluctuating Black population that peaked at 22% in 2015-2017 and settled at 10% in 2022, a growing Hispanic presence from 5% to 8%, and an emergence of multiracial identities with the "Two or More Races" category increasing from 2% to 8%. These changes suggest that Colony Cove is becoming a Transitional Community, moving towards greater diversity.

The median income in Colony Cove has shown volatility over the decade. It peaked at $99,942 in 2018, increased from $86,512 in 2013. There was a decline to $80,540 in 2020, possibly due to the economic impact of the COVID-19 pandemic. By 2022, the median income had slightly recovered to $81,301. This economic volatility correlates with the demographic shifts. The period of highest income (2015-2019) coincided with increased racial diversity, particularly growth in Black and Asian populations. The recent stabilization of income around $81,000 aligns with a more balanced racial composition, suggesting a potential link between diversity and economic stability.