Cabool has experienced demographic changes over the past decade. The population fluctuated, reaching 5,100 in 2019 before declining to 4,124 by 2022. Despite this decrease, the median income increased from $29,453 in 2017 to $37,369 in 2022.

The racial composition of Cabool has remained relatively stable. The white population consistently represents the majority at approximately 87-88% in recent years. The Hispanic population increased slightly from 1% in 2017 to 4% in 2022, while the Native American population decreased from 5% to 2% during the same period.

These demographic shifts, particularly the rising median income, may have influenced the absence of new LIHTC projects in the past decade. However, other factors and housing programs not covered in this analysis may also contribute to Cabool's affordable housing landscape.

Cabool's LIHTC funded affordable housing inventory consists of 40 units across two projects, representing approximately 2.5% of the estimated housing stock. The projects, completed in 1997 and 2003, offer a mix of one-, two-, and three-bedroom units. While no new LIHTC development has occurred in recent years, the city has experienced demographic changes, including population fluctuations and increasing median income. These factors, along with the stable racial composition, may have influenced affordable housing needs and development patterns in Cabool.