Over the past decade, Carthage has experienced demographic shifts. The population has remained relatively stable, fluctuating between approximately 4,500 and 5,000 residents. Median income has shown a positive trend, increasing from $30,781 in 2015 to $43,171 in 2022, representing a 40% increase over seven years.

Racial demographics have also changed. The white population has decreased from 63% in 2015 to 54% in 2022, while the Black population has increased from 16% to 27% over the same period. The Hispanic population has remained relatively stable, ranging between 13% and 19% during this time.

No new LIHTC projects have been built in Carthage since 1997. The increasing median income over the past decade might suggest a reduced need for additional low-income housing in the neighborhood. However, this conclusion would require further investigation into other affordable housing programs and overall housing affordability in the area.

Carthage's LIHTC-funded affordable housing inventory provides 49 units of housing, with 45 designated as low-income units. These units comprise about 2.8% of the estimated housing inventory in the neighborhood. The LIHTC program has invested an average of $3,401 per unit in tax credits. The affordable housing stock primarily consists of one-bedroom and two-bedroom units, suggesting a focus on smaller households. While no new LIHTC projects have been built since 1997, the neighborhood has experienced demographic changes, including an increase in median income and shifts in racial composition over the past decade.