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Demographics
Population
Median Income
Racial Distributions
Lake Formosa, a neighborhood in Orlando, Florida, is classified as a Low Diversity community with a White Majority. In 2022, 86% of its population identified as white. The median income in 2022 was $100,224, indicating relative affluence. The Orlando Museum of Art is located in this predominantly residential neighborhood.
From 2013 to 2017, Lake Formosa experienced a slight decrease in the white population from 92% to 84% and an increase in the Hispanic population from 6% to 13%. This trend suggested a move towards Moderate Diversity. However, post-2017, the trend reversed, with the white population increasing to 86% by 2022, reinforcing its Low Diversity status.
The neighborhood showed potential to become a Transitional Community between 2013-2017 due to increasing Hispanic representation, but this trend did not persist. In 2022, a small black population (4%) emerged, which was not present in previous years, potentially indicating the beginning of a new diversification trend.
The median income in Lake Formosa has fluctuated over the years, showing an overall modest increase. From 2013 to 2016, there was a significant decrease in median income from $103,508 to $84,694, coinciding with the period of increasing Hispanic population. From 2017 onwards, as the white majority reasserted itself, median income generally increased, reaching $100,224 in 2022. The population has grown significantly from 575 in 2013 to 1,143 in 2022, suggesting increased desirability of the neighborhood.
Lake Formosa has remained predominantly white, contrary to many urban areas across the U.S. that have been experiencing increased diversity. The neighborhood's resistance to this trend might be related to its relatively high median income, which could create economic barriers to diversification. The fluctuations in median income, particularly the dip from 2013 to 2016, may reflect broader economic trends such as the recovery from the 2008 financial crisis. The subsequent rise in income aligns with the general economic growth experienced in many parts of the U.S. in recent years.
The significant population growth in Lake Formosa outpaces the average growth rate for U.S. cities, suggesting that Orlando, and particularly this neighborhood, has been attractive to new residents. This growth, combined with the maintenance of a White Majority, implies that the neighborhood may be particularly appealing to affluent white residents. In conclusion, while Lake Formosa has seen some minor shifts in its demographic makeup, it has largely maintained its character as a Low Diversity, White Majority community with a high median income. The neighborhood's resistance to broader diversification trends seen in many U.S. urban areas, combined with its population growth, suggests it may be positioning itself as an enclave for affluent white residents within the more diverse Orlando metropolitan area.