Ten thousands of years ago, the Indian River Lagoon was formed along the east central coast of Florida and later occupied by the Ais people. In 1715, several Spanish ships carrying treasure worth over $500 million were shipwrecked by a storm off the shores of Treasure Coast. Only a portion of the gold has since been found. By the 1870s, Sebastian had transformed into a small fishing village. It was founded by 1882 and named after St. Sebastian, a nearby river. According to the U.S. Census of 2000, 16,181 people, 6,844 households, and 5,044 families reside in Sebastian. The area’s population density is 1,282.2 inhabitants per square mile. By 2010, the population had increased to 22,371, with 7,287 housing units and an average population density of 577.4 people per square mile. The city of Sebastian identified themselves as 93.66% White, 3.18% African American, 0.24% Native American, 0.74% Asian, 0.95% from other races, and 0.95%  multiracial; 3.86% of any race identified themselves as Hispanic or Latino. There were 6,844 households out of which 24.5% had children under the age of 18 living with them, 61.5% were married couples living together, 9.2% had a female householder with no husband present, with the remaining 26.3% non-traditional families or unrelated individuals. 21.6% of all households were made up of individuals and 12.2% had someone living alone who was 65 years of age or older. The average household size was 2.36 and the average family size was 2.72.In the city the population was distributed among a variety of age ranges, with 20.2% under the age of 18, 4.8% from 18 to 24, 22.4% from 25 to 44, 24.7% from 45 to 64, and 27.9% who were 65 years of age or older. The median age was 47 years. For every 100 females there were 92.1 males. For every 100 females age 18 and over, there were 88.8 males. The median income for a Sebastian household was $39,327, and the median income for a family was $43,044. As of a 2007 estimate, the median income was $45,723, and the median income for a family was $52,141. As of a 2010 estimate the median income was $49,975 and the median income for a family was $59,600. Males had a median income of $30,787 versus $23,936 for females. The per capita income for the city was $24,959 in 2010. About 4.8% of families and 6.3% of the population were below the poverty line, including 9.6% of those under age 18 and 5.0% of those age 65 or over. The city of Sebastian is home of the airplane manufacturer Velocity Aircraft, located at the Sebastian Municipal Airport, and Mel Fisher’s Treasure Museum. Sebastian has one acute care hospital, Sebastian River Medical Center, three elementary schools, two middle schools, and one high school. There is a small library with a limited amount of books, and once a year the inhabitants sell their folk art. Notable current and former residents of Sebastian include sculptor Jim Gary, folk singer Arlo Guthrie, and professional baseball player Bryan Augenstein.