Despite its popularity as a summer vacation destination, Provincetown is undergoing a wave of demographic change. With property values rising significantly over the past decade, the city has begun to experience a widening divide between the haves and the have-nots. As a result, the city's population is composed mainly of second-home owners and investors, who are driving up real estate prices. For example, a 418 square foot home with 30 feet of waterfront is selling for $1.6 million, and no other airmen are listed in the town's population.
According to the most recent census, 96.4% of Provincetown residents are US citizens. This number has fallen from 97.2% in 2018. This percentage is lower than the state and neighboring towns. Another interesting fact about Provincetown is that a large portion of the population is Vietnam veterans. The percentage of people who live in Provincetown is approximately 69%, and they are overwhelmingly white. This is good news for businesses in the region, as many of their potential customers live in this part of Massachusetts.
The median age of people living in Provincetown, MA was 57 in 2019. The average family income was $67,290. Those living in poverty are considered impoverished if their income is below the threshold. The top three racial and ethnic groups in Provincetown are Hispanic and White, with the second highest proportions being Other people. So, despite the low income level of residents in Provincetown, the community is a good place to raise a family.