Penn Plaza, a neighborhood in Manhattan, New York, exhibits a Moderate Diversity profile with a significant Asian population (31%) and a declining White population (40%) as of 2022. The area's median income of $116,492 in 2022 reflects its status as an affluent urban center. Penn Plaza is positioned near Madison Square Garden and Penn Station, making it a hub for commuters and tourists, which influences its demographic and economic composition.

Over the past decade, Penn Plaza has transitioned from a White Majority community to one of Moderate Diversity. In 2013, the neighborhood was categorized as White Majority with 56% of the population identifying as white. By 2018, it had shifted to a White Plurality (49%), and by 2022, no single racial group held a majority. The Asian population has seen the most significant growth, increasing from 21% in 2013 to 31% in 2022. This growth, combined with increases in Black and Hispanic populations, has contributed to the area's increased diversity. The Hispanic population has shown consistent growth from 9% in 2015 to 15% in 2022, indicating a Transitional Community aspect.

As the neighborhood has become more diverse, there has been a slight decline in median income. The peak median income of $130,833 in 2015 coincided with the highest percentage of White residents (54%). As diversity increased, median income fluctuated, reaching a low of $105,997 in 2020 before rebounding to $116,492 in 2022. This trend suggests that while the area remains affluent, the demographic shifts may be linked to changes in the local economy or housing market. Population growth has been steady, increasing from 2,653 in 2013 to 3,519 in 2022, indicating the neighborhood's continued attractiveness despite economic fluctuations.