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Demographic Shifts in Prospect Knolls: From Low to Moderate Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
Prospect Knolls, a neighborhood in Edina, Minnesota, currently presents as a White Majority community with moderate diversity. As of 2022, the neighborhood has a population of 1,434 and a median income of $114,128. Prospect Knolls is known for its well-maintained parks and green spaces, contributing to its reputation as a desirable residential area within the affluent suburb of Edina.
Over the past decade, Prospect Knolls has experienced a gradual transition from a Low Diversity community to one with Moderate Diversity. In 2013, the neighborhood was categorized as Low Diversity, with the white population comprising 69% of residents. By 2022, while still maintaining a White Majority status, the white population decreased to 61%, indicating a shift towards greater diversity.
The most notable changes include a significant increase in the Asian population, from 16% in 2013 to 21% in 2022; growth in the multiracial category, from 2% in 2013 to 12% in 2022; and fluctuations in the Black population, peaking at 10% in 2018 but settling at 5% by 2022. These shifts suggest that Prospect Knolls is becoming a Transitional Community, with increasing representation from various racial groups.
The demographic changes in Prospect Knolls have occurred alongside fluctuations in median income. The neighborhood has maintained a high median income throughout the decade. The median income rose from $111,675 in 2013 to a peak of $170,772 in 2021, before dropping to $114,128 in 2022. Despite the recent decrease, the 2022 median income remains higher than the 2013 figure, indicating overall economic growth. The population has shown a slight downward trend, from 1,590 in 2013 to 1,434 in 2022, which could suggest changes in household composition or housing affordability.
The trends observed in Prospect Knolls align with broader national patterns of increasing diversity in suburban areas, particularly in affluent communities. Many U.S. suburbs have experienced similar demographic shifts, with growing Asian and multiracial populations. The maintenance of high median incomes alongside increasing diversity is noteworthy, as it suggests that the neighborhood is attracting high-income residents from diverse backgrounds, potentially professionals in technology, healthcare, or other high-paying sectors.
The fluctuations in median income, particularly the sharp rise and fall between 2021 and 2022, could be reflective of broader economic trends, such as the impact of the COVID-19 pandemic and subsequent recovery. Prospect Knolls exemplifies a transitioning suburban community, moving from Low Diversity to Moderate Diversity while maintaining its economic affluence. This evolution reflects broader national trends of increasing suburban diversity, particularly in high-income areas.
