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Demographic Evolution of Lake Terrace and Oaks: From White Majority to Moderate Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Lake Terrace and Oaks, a neighborhood in New Orleans, Louisiana, has undergone significant demographic changes from 2013 to 2022. The community transitioned from a "White Majority" to "Moderate Diversity" during this period. In 2022, the population comprised 37% white, 29% Black, and 20% multiracial residents. The neighborhood's median income was $96,954 in 2022, indicating an affluent area. Lake Terrace and Oaks is situated near the University of New Orleans.
The neighborhood experienced a notable shift in racial composition over the past decade. The white population decreased from 65% in 2013 to 37% in 2022. Conversely, the "Two or More Races" category increased from 0% to 20% during the same period. The Black population grew from 21% to 29%, while the Asian population fluctuated but generally increased from 7% to 10%.
The median income in Lake Terrace and Oaks has fluctuated but remained high. It reached a peak of $116,973 in 2017 before stabilizing around $96,000 in recent years. The population grew modestly from 2,154 in 2013 to 2,290 in 2022. These trends suggest that the neighborhood has maintained its economic affluence while becoming more racially diverse.
The demographic changes in Lake Terrace and Oaks align with broader national trends towards increasing racial diversity, particularly in urban and suburban areas. The growth in the multiracial population is notable and corresponds with national data showing a significant increase in people identifying as multiracial in the 2020 Census.
The neighborhood's ability to maintain high median incomes while diversifying is uncommon. Many areas experiencing rapid diversification often see more significant economic changes. This stability might be attributed to the neighborhood's proximity to the University of New Orleans, potentially attracting diverse, highly educated professionals.
Lake Terrace and Oaks presents a case of a neighborhood transitioning from a predominantly white, affluent area to a more diverse community that has maintained its economic status. This evolution reflects broader national trends towards increased racial diversity but is distinguished by its economic resilience during this demographic shift.
