Over the last decade, Genoa's population has slightly decreased from 6,810 in 2010 to 6,449 in 2022. The median income has shown an overall increasing trend, rising from $67,374 in 2013 to $77,166 in 2022.

Regarding racial distribution, the city has remained predominantly white, with the percentage of white residents ranging from 80% to 91% between 2013 and 2022. There has been a slight increase in Hispanic population, growing from 7% in 2013 to 14% in 2022. Other racial groups have maintained relatively small percentages throughout this period.

The lack of new LIHTC projects in the last decade could be related to the rising median income and the relatively stable population, which might indicate a reduced need for additional low-income housing.

Genoa's LIHTC funded affordable housing inventory consists of a single project, the Midland-Genoa Apartments, which has been serving the community since 1987. This project provides 24 low-income units, covering about 0.97% of the city's estimated housing stock. The city has seen a slight population decrease and an increase in median income over the past decade, which may have influenced the lack of new LIHTC projects. The racial composition has remained largely stable, with a small increase in the Hispanic population. These demographic trends provide context for understanding the current state of affordable housing in Genoa.