Santa Barbara has experienced substantial economic growth alongside demographic changes. The median income has risen from $64,434 in 2013 to $104,001 in 2022, an increase of over 61%. This economic uplift coincides with increasing diversity, suggesting a possible correlation between the two trends.

The population has slightly decreased from 90,431 in 2013 to 87,519 in 2022, while median income has risen. This could indicate a gentrification process, where rising costs of living may be pricing out some residents while attracting higher-income individuals.

Santa Barbara's trends align with patterns seen in many coastal California cities, where increasing diversity is often accompanied by rising property values and incomes. The significant income growth in Santa Barbara outpaces many other areas, potentially reflecting its desirability as a scenic coastal location.

Based on observed trends, Santa Barbara will likely continue its trajectory towards greater diversity. In the near future, the city might transition fully into the "Moderate Diversity" category, with the Hispanic population potentially growing to match or exceed the white population.

Economically, if current trends continue, Santa Barbara may see further increases in median income. This could lead to increased gentrification pressures, potentially slowing population growth or leading to further slight declines as housing affordability becomes a greater challenge.

In the longer term, if growth in the "two or more races" category continues alongside increases in other minority populations, Santa Barbara could eventually transition towards a "High Diversity" classification. This would depend on whether these groups each reach significant representation (over 10%) while no single group dominates above 40%.

These demographic and economic shifts will likely have significant implications for local policies, community services, and cultural dynamics in Santa Barbara, necessitating ongoing adaptation to meet the changing needs of its evolving population.