Canton has experienced significant population growth, increasing from 35,473 in 2013 to 45,365 in 2022, a 27.9% growth rate. The median income has risen from $63,910 in 2013 to $72,783 in 2022, a 13.9% increase.

The racial demographics of Canton have shifted. The white population has decreased from 71% in 2013 to 66% in 2022. The Hispanic population has grown from 17% to 20%. The Black population has increased from 6% to 10%, and those identifying as two or more races have risen from 1% to 4%. These changes indicate a trend towards greater diversity in the city.

No new LIHTC projects have been recorded in Canton since 2004, despite population growth and demographic shifts. This may suggest that other affordable housing initiatives or market-rate developments have been meeting the city's housing needs, or that there is a growing demand for affordable housing not currently addressed through the LIHTC program.

Canton, Georgia, has a modest LIHTC-funded affordable housing inventory comprising 1.71% of its estimated housing stock. The city experienced significant affordable housing development in the early 2000s, with diverse unit types to accommodate different household sizes. While the population has grown substantially and become more diverse over the past decade, there has been no recorded LIHTC development since 2004. This analysis indicates a need for ongoing assessment of affordable housing needs in Canton, considering its changing demographics and rising median income.