Exploratory Data Analysis with FFIEC Reports for Jersey City

Although Jersey City is known as the most racially diverse city in the U.S., the circumstances, opportunities, and experiences vary widely according to the location people reside in.

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Inspiration

I'm an aspiring data science enthusiast, but I'm also passionate about finding practical solutions to issues that can exist even on a local standpoint. I chose to analyze the city Jersey City because it is known to be the mot diverse city in the United States. One of the most important issues that I wanted to highlight was how living in different districts (referred to as wards in the context of Jersey City) could create vast differences in the people that live in these areas.

What it does

In this project, indicators will be used to determine an analysis of an individual ward's income, using data gathered from the 2020 FFIEC Census Reports for Population, Income and Housing Units in Jersey City. When the results are gathered, the data was analyzed to find existing trends related to income for each ward.

How I built it

I used the Python Pandas library to clean and process my data. I then created a presentation to analyze the trends found.

Challenges I ran into

The major challenge I ran into was deciding what should the indicators used in this project consist of. I then selected five indicators which I felt could better represent the data I wanted to find out. I chose the indicators to be Number of Families, Non-Hisp White Populations, Tract Minority Populations, % below Poverty Line, and 2020 Est. Tract Median Family Income.

What I learned

I learned that Ward C and Ward E share all of their trends.The trends existing between Ward F and Ward D were similar except for when the total of Number of Families was used as a comparison. All trends between Ward A and Ward D were opposing, with no similarities. Ward B and Ward A share all of their trends. All trends between Ward B and Ward D were opposing.

What's next for Exploratory Data Analysis with FFIEC Reports for Jersey City

In the future I plan to select a larger number of indicators that would better represent racial diversity, as different types of minorities were overlooked in this study and shortened to be defined as individuals who were not Non-Hispanic White for simplicity.

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