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Demographics
Population
Median Income
Racial Distributions
Diamond Lake, a neighborhood in Minneapolis, Minnesota, is classified as a Low Diversity community with a White Majority. In 2022, 82% of its population identified as white. The median income in Diamond Lake was $110,709 in 2022, indicating its status as a relatively affluent area within Minneapolis. The neighborhood is known for its namesake lake, which provides recreational opportunities and contributes to its desirable residential character.
Over the past decade, Diamond Lake has maintained its status as a White Majority community. From 2013 to 2018, there was a slight trend towards increased diversity, with the white population decreasing from 76% to 72%. Other racial groups, particularly Black and Asian populations, saw modest increases during this period. However, post-2018, there was a reversal of this trend, with the white population increasing from 72% in 2018 to 82% in 2022. This shift moved the neighborhood from bordering on Moderate Diversity back to Low Diversity. The Hispanic population has remained relatively stable, fluctuating between 6-11% throughout the decade. Despite these fluctuations, Diamond Lake has consistently maintained its White Majority status.
The demographic shifts in Diamond Lake correlate with changes in median income. From 2013 to 2019, as the neighborhood showed signs of increasing diversity, the median income remained relatively stable, fluctuating between $94,849 and $99,791. A significant increase in median income occurred from 2019 to 2021, rising from $97,374 to $132,208. This period coincides with the reversal of the diversification trend and a strengthening of the White Majority. The population has remained relatively stable throughout the decade, with minor fluctuations, suggesting that changes in racial composition and income are more likely due to resident turnover rather than significant influxes or outflows of population.
The trend of increasing median income in Diamond Lake from 2019 to 2022 aligns with broader national trends of economic recovery and growth following the COVID-19 pandemic. The neighborhood's median income ($110,709 in 2022) is significantly higher than the national median household income (approximately $70,784 in 2021), indicating that Diamond Lake is a relatively affluent area. The strengthening of the White Majority in recent years goes against the national trend of increasing diversity in many urban areas. This could suggest that Diamond Lake is becoming increasingly desirable to affluent white residents, potentially raising questions about accessibility and affordability for other racial groups.
In conclusion, Diamond Lake has maintained its status as a White Majority, Low Diversity community throughout the decade. It has experienced subtle demographic shifts and significant economic growth. The correlation between increasing median income and a strengthening White Majority in recent years may warrant further investigation into local housing policies, community inclusivity efforts, and potential gentrification impacts.