I don't know if it's still true, but back when the film was at the height of its college popularity, there was a racial divide re: TRHPS; it was definitely a white-kid thing.
When I was a freshman in college (when the legal drinking age was 18), I lived in a 15-story dorm with 800 residents; state flagship school, lots of diversity in that cheap building option. We used to throw resident keggers, and one night I witnessed this phenomenon in action. The DJ put on The Time Warp, and every white kid in the place ran to line up and start dancing it, while every minority kid just stood there with a VERY puzzled look. Not a single non-white person in the place was even vaguely familiar with the film, or had ever heard the song. They thought we had all lost our flippin' minds.
TRHPS was generational, too, but at this point the generation that was too old to get into it is getting well-up in age. My 2 sisters and I are each evenly spaced 10 years apart. I was 14 when the movie was released in the US, and about 17 when it really caught on as a cultural phenomenon with all the midnight showings. My next-older sister was a fan, too, but my eldest sister, who was a mom in her late 30s at the time, totally missed it.