The Second Avenue neighborhood has experienced notable demographic shifts over the past decade. The population has fluctuated, increasing from 1,218 in 2020 to 2,324 in 2022. This population growth may indicate an increased demand for affordable housing options.

Median income in the neighborhood has shown an upward trend, rising from $33,512 in 2017 to $55,243 in 2022. Despite this increase, the continued presence of LIHTC-funded housing suggests an ongoing need for affordable options, particularly for those who may not have benefited from the overall income growth.

Racial demographics have also changed over the past decade. The Black population percentage decreased from 68% in 2018 to 49% in 2022, while the White population increased from 13% to 33% during the same period. The Hispanic population has decreased from 14% in 2018 to 4% in 2022. These changes in racial composition may reflect broader socioeconomic trends in the neighborhood and could influence future affordable housing needs.

The Second Avenue neighborhood in Albany demonstrates a commitment to affordable housing through its LIHTC-funded project, Creighton Storey Homes. With 128 low-income units, this development contributes to the neighborhood's housing diversity, representing about 14.4% of the estimated housing inventory. The project's mix of unit sizes caters to various household compositions, reflecting an effort to meet diverse community needs. While demographic shifts, including population growth and changes in racial composition, have occurred over the past decade, the presence of this LIHTC project continues to play a role in maintaining affordable housing options in an area experiencing rising median incomes.