Zip code 08002 has experienced consistent population growth over the past decade, increasing from 22,234 in 2013 to 23,442 in 2022. The median income has also shown an upward trend, rising from $78,103 in 2013 to $86,996 in 2022, with some fluctuations in between.

Racial demographics in zip code 08002 have remained relatively stable. The white population has slightly decreased from 71% in 2013 to 66% in 2022. The Asian population has maintained a range of 12-14%, while the Hispanic population has seen a small increase from 7% to 11% during this period. The Black population has remained relatively constant, ranging between 5-8%.

These demographic trends, particularly the rising median income and relatively stable racial composition, may have influenced the absence of new LIHTC projects in the area since 2007. The increasing median income could indicate a reduced need for additional affordable housing units in recent years.

Cherry Hill Mall's zip code 08002 maintains a modest LIHTC-funded affordable housing inventory, with 145 total units primarily established in 2007. While this represents a small percentage of the estimated housing stock, it is important to note that other affordable housing programs may contribute to meeting the area's needs. The zip code has experienced steady population growth and increasing median income over the past decade, which may have impacted the development of new LIHTC projects. The racial demographics have remained relatively stable, with slight increases in diversity. These factors collectively provide insight into the affordable housing landscape of this New Jersey community.