Hill City has undergone significant demographic changes over the past decade. The population increased from 1,089 in 2017 to 1,457 in 2022, a 33.8% growth. Median income rose from $40,539 in 2017 to $58,489 in 2022, a 44.3% increase.

The racial composition of the neighborhood has also shifted. The percentage of white residents increased from 77% in 2017 to 86% in 2022, while the proportion of Black residents decreased from 16% to 4%. The Hispanic population remained relatively stable, changing from 1% to 2%.

Despite these demographic changes and the absence of new LIHTC projects in the past decade, the existing affordable housing units continue to contribute to the neighborhood's housing mix. The rising median income may suggest a reduced need for additional affordable housing units. However, other factors and housing programs not captured in this data may also influence the affordable housing landscape in Hill City.

Hill City's LIHTC funded affordable housing inventory, consisting of 18 units, has been a constant presence in the neighborhood since 1996. The Hill City Rental project provides two- and three-bedroom units, potentially serving families. Over the past decade, the neighborhood has experienced population growth, substantial increases in median income, and changes in racial composition. These demographic shifts, combined with the lack of new LIHTC projects, indicate an evolving housing landscape in Hill City that may be influenced by factors beyond the scope of the LIHTC program alone.