The land was annexed to the City of Calgary in 1961 and the neighbouring community of Queensland was established in 1973. Diamond Cove was established as an estate community with construction commencing in 1989, however the community was officially recognised in 1991. The community has a dedicated entrance, accessed from Bow Bottom Trail about 1.5 km north of Canyon Meadows Drive.
In the City of Calgary's 2012 municipal census, Diamond Cove had a population of 699 living in 271 dwellings, a -2.4% increase from its 2011 population of 716.[3] With a land area of 0.5 km2 (0.19 sq mi), it had a population density of 1,400/km2 (3,600/sq mi) in 2012.[3][4]
Residents in this community had a median household income of $120,196 in 2000, and there were 3.3% low income residents living in the neighbourhood.[5] As of 2000, 17.9% of the residents were immigrants. A proportion of 3.3% of the buildings were condominiums or apartments, and 3.3% of the housing was used for renting.[6]
