The racial composition of the neighborhood has also changed notably. The white population increased from 72% in 2013 to 82% in 2022, while the black population decreased from 23% to 10% during the same period. The Asian population experienced a slight increase from 3% to 4%, and other racial groups remained relatively stable.

These demographic changes, particularly the significant increase in median income and shift in racial composition, may indicate changing housing needs in the neighborhood. The absence of new LIHTC projects in recent years could be attributed to the area's rising income levels, potentially reducing the perceived need for additional low-income housing.

Downtown Knoxville's affordable housing landscape is characterized by Summit Towers, which provides 278 one-bedroom units. This project contributes substantially to the neighborhood's affordable housing stock, accounting for about 21% of the estimated housing inventory. The area has experienced considerable demographic changes over the past decade, including population growth, a substantial increase in median income, and shifts in racial composition. These changes may influence the current and future needs for affordable housing in the neighborhood. While the existing LIHTC project continues to play a crucial role in providing affordable housing options, the evolving demographics of Downtown Knoxville may require ongoing assessment to ensure housing needs are met across all income levels.