The historic status of Waverly implies older architecture and established infrastructure. The population density suggests resident access to various urban amenities within walking distance. This environment may foster community identity.

Population fluctuations could be attributed to factors such as urban renewal efforts, changes in housing affordability, or shifts in neighborhood appeal to different demographic groups. Recent slight population decline may indicate ongoing changes in neighborhood composition or housing market.

Historic Waverly, like many urban neighborhoods with rich histories, may face challenges balancing historic preservation with modern development pressures. Population trends may reflect this balance between maintaining heritage and adapting to contemporary urban living needs.

In conclusion, Historic Waverly demonstrates characteristics of a dynamic urban neighborhood with a relatively stable but fluctuating population. Its density suggests an urban living environment potentially retaining historic district charm. The neighborhood's future may depend on adaptation to changing urban demographics and preferences while preserving its historical identity.