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Demographic Shifts in Peabody: Analyzing Racial Composition and Economic Trends
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Peabody, a neighborhood in Cambridge, Massachusetts, exhibits a White Majority demographic composition with a median income of $114,137 as of 2022. This area, located near Harvard University, has experienced demographic shifts over the past decade. Peabody is known for its blend of historic architecture and modern amenities.
In 2013, Peabody was categorized as a White Majority community, with 63% of the population identifying as white. Over the decade, the neighborhood maintained its White Majority status, but showed signs of increasing diversity. The white population decreased from 63% in 2013 to 61% in 2022.
The neighborhood has exhibited characteristics of a Transitional Community. The Hispanic population increased from 4% in 2013 to 9% in 2022, while those identifying as two or more races increased from 2% to 6% over the same period. The Asian population remained between 10-14% throughout the decade, while the Black population decreased from 16% to 9%.
The demographic shifts in Peabody occurred alongside significant economic growth. The median income increased from $91,561 in 2013 to $114,137 in 2022, a 24.7% increase over the decade. The population of Peabody grew from 11,201 in 2013 to 13,182 in 2022, a 17.7% increase.
The trends observed in Peabody reflect broader patterns seen in many urban areas across the United States, particularly in knowledge-economy hubs. The gradual increase in diversity, coupled with rising incomes, is characteristic of gentrifying neighborhoods in major metropolitan areas.
Peabody's changes are somewhat unique in that it has maintained a White Majority status while becoming more diverse. This contrasts with some urban areas that have experienced more rapid transitions to Majority-Minority or High Diversity status.
The economic growth in Peabody outpaces national averages, with its 24.7% increase in median income over the decade surpassing the U.S. overall median household income growth of 10-15% for a similar period. This above-average economic performance is likely tied to Cambridge's position in the knowledge economy.
Peabody represents a neighborhood in transition, balancing its historically White Majority status with increasing diversity, while experiencing significant economic growth. These changes reflect broader urban trends but also highlight the unique position of Cambridge as a center of academia and innovation, influencing its demographic and economic evolution.
