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Demographics
Population
Median Income
Racial Distributions
Franklin Square, New York, is categorized as a "White Majority" community with moderate diversity. As of 2022, the white population constitutes 59% of the total, while other racial groups, particularly Asian and Hispanic populations, have significant representation. The city's median income of $114,622 in 2022 indicates a relatively affluent area, with a population of 31,969 residing in a compact 2.88 square miles.
Over the past decade, Franklin Square has been transitioning from a "Low Diversity" community towards a more diverse demographic makeup. In 2013, the white population comprised 70% of the total, classifying it as a "White Majority" with low diversity. By 2022, this percentage had decreased to 59%, while maintaining its "White Majority" status but now with moderate diversity.
The community has shown signs of becoming a "Transitional Community," with consistent increases in Asian and Hispanic populations. The Asian population grew from 9% in 2013 to 15% in 2022, while the Hispanic population increased from 14% to 18% during the same period. This trend indicates a shift towards greater diversity, potentially moving towards a "High Diversity" classification in the future if current trends continue.
The median income in Franklin Square has shown overall growth, rising from $103,202 in 2013 to $114,622 in 2022, with some fluctuations in between. This increase in median income correlates with the growing diversity, suggesting that the influx of new racial groups, particularly Asians and Hispanics, may be contributing to the area's economic prosperity. The population has also seen a modest increase from 30,555 in 2013 to 31,969 in 2022, indicating steady growth and potentially increased housing demand in this densely populated area.
The trends observed in Franklin Square align with broader patterns seen in many suburban areas near major metropolitan centers. The increasing diversity and rising median income are often characteristics of areas experiencing suburbanization of minority populations and the attraction of skilled immigrants, particularly in the Asian community.
Based on the observed trends, Franklin Square is likely to continue its trajectory towards becoming a "High Diversity" community within the next 5-10 years. The consistent decrease in the white population percentage, coupled with increases in Asian and Hispanic populations, suggests that no single group may comprise more than 40% of the population in the near future. Economically, if current trends persist, the median income is likely to continue rising, potentially reaching or exceeding $125,000 within the next five years. This economic growth, combined with increasing diversity, may lead to changes in local businesses, cultural offerings, and community services to cater to a more diverse population.
As the community approaches a "High Diversity" classification, it may face challenges related to integration, cultural adaptation, and potentially, housing affordability for long-time residents if property values continue to rise with increasing affluence. Franklin Square is in a state of demographic and economic transition, moving from a predominantly white, affluent suburb to a more diverse, multicultural community while maintaining its economic prosperity. This transition presents both opportunities for cultural enrichment and potential challenges in community cohesion and affordability.