"When reminiscing back to my childhood years..." you can remove "back" as the word reminiscing implies that you're thinking back in time.
Also, the phrasing is a bit awkward, I would suggest writing it like this: "When reminiscing about my childhood years, an instant feeling of joy comes over me as all sorts of IMAGES unravel in my head. These images are ones of diversity, culture, and a strong community."
"...diverse neighborhood HAS ALLOWED me to grow as a person and be more of an accepting individual."
What do you mean by "family infrastructures"? Do you mean the breaking down of family infrastructures?
I would change your next sentence to: "The image of my neighborhood fits no stereotype, with low-income houses found next to ones that are newly-constructed." Also, I don't think this sentence fits here in the essay. I would consider maybe moving it earlier in the paragraph where you're creating an image of your neighborhood for the reader.
I would remove the sentence about the marital statuses of the people of your neighborhood, it does nothing to strengthen or support your point.
The rest of the paragraph is quite messy, I would have a teacher or friend edit it for grammar and structure. I don't want to write it out for you because I would have to rewrite the rest of it, but you have to always be aware of the message you're giving, and how this is a reflection of your growth and what you can contribute to a school. In this last paragraph all of these points are unclear, and it's difficult to connect to the introduction, where you look back on your neighborhood with joy. I think that you have conflicting statements about your feelings on your neighborhood.
This is a really good start, but I definitely think you can benefit from reading this aloud to see if it makes sense, and then rereading it to see if all of your statements support your message. Also I would really recommend going over it with a teacher.