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Demographic Trends in Homewood: A Study of Racial Composition and Economic Fluctuations
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
Loading Content...
Demographics
Population
Median Income
Racial Distributions
Homewood, a neighborhood in Moline, Illinois, is characterized as a "White Majority" community with moderate diversity. As of 2022, the white population comprises 79% of the total, with other racial groups having significant representation. The neighborhood has undergone notable demographic shifts over the past decade, along with fluctuations in median income. Homewood's proximity to the John Deere World Headquarters likely influences its economic landscape and demographic composition.
From 2013 to 2022, Homewood has maintained its status as a "White Majority" community. The white population percentage has fluctuated, peaking at 87% in 2016 before declining to 79% in 2022. The Asian population has grown from 3% in 2013 to 6% in 2022, with a peak of 12% in 2020. The Black population has increased from 4% in 2013 to 11% in 2022. The Hispanic population has remained relatively stable at around 2%. These changes indicate a trend towards increasing diversity, though not yet reaching the threshold for "High Diversity" as defined in the study.
The median income in Homewood has shown considerable volatility over the past decade. From 2013 to 2019, there was a general upward trend, with median income rising from $54,684 to $64,843. A significant spike occurred in 2021, with median income reaching $80,823. However, 2022 saw a sharp decline to $59,863, closer to the levels seen in previous years. These economic fluctuations correlate with the demographic shifts. The period of increasing diversity (2018-2022) coincides with some of the highest median income figures, suggesting a potential link between the influx of diverse populations and economic opportunities in the area.
The demographic changes in Homewood reflect broader national trends of increasing diversity in suburban areas. The growth in Asian and Black populations aligns with patterns seen in many Midwestern cities as they become more racially diverse. The economic volatility, especially the sharp rise and fall in median income between 2021 and 2022, may be related to broader economic factors such as the COVID-19 pandemic and its aftermath.
The presence of the John Deere World Headquarters nearby likely contributes to the area's economic dynamics, potentially attracting a more diverse workforce and influencing housing prices and income levels. This corporate presence may explain some of the neighborhood's resilience in maintaining relatively high median incomes despite demographic shifts.
Homewood appears to be a community in transition, gradually moving from a predominantly white neighborhood to one with increasing racial diversity. While it maintains its "White Majority" status, the trends suggest a continuing shift towards greater diversity in the coming years. The economic fluctuations, particularly the recent volatility, will be crucial to monitor as they may significantly impact the neighborhood's demographic trajectory and overall character.
