Over the past decade, Franklin Gateway has experienced demographic shifts. The population has decreased from 1,266 in 2010 to 1,017 in 2022, a decline of about 19.7%. Despite this population decrease, the median income has shown an upward trend, rising from $16,453 in 2013 to $20,572 in 2022, an increase of approximately 25%.

The racial composition of the neighborhood has also evolved. The proportion of Black residents decreased from 43% in 2013 to 33% in 2022, while the Hispanic population increased from 7% to 14% during the same period. The White population has remained relatively stable, fluctuating between 42% and 48% over the decade.

These demographic changes, particularly the increase in median income and the shift in racial composition, may have influenced the need for and distribution of affordable housing in the neighborhood. The substantial presence of LIHTC-funded units suggests a continued demand for affordable housing despite the overall population decrease.

Franklin Gateway's affordable housing landscape is characterized by a significant LIHTC presence, with 173 low-income units representing nearly half of the estimated housing inventory. The neighborhood has seen consistent development of affordable housing over a 15-year period, with the most recent project completed in 2015. The diverse mix of unit types caters to various household needs. The population has decreased over the past decade, while the median income has risen, and there have been shifts in the racial composition of the neighborhood. These demographic changes, coupled with the substantial LIHTC inventory, reflect the complex and evolving nature of affordable housing needs in Franklin Gateway.