Over the past decade, Homewood West has experienced significant demographic changes. The population has decreased from 854 in 2013 to 580 in 2022, a decline of approximately 32%. Despite this population decrease, the median income has remained relatively stable, increasing slightly from $19,767 in 2013 to $22,329 in 2022. The racial composition of Homewood West has remained predominantly African American, with the percentage of Black residents increasing from 88% in 2013 to 91% in 2022. There has been a slight increase in the white population, from 0% in 2013 to 9% in 2022.

The stability of the median income and the consistent racial composition suggest that while the population has decreased, the socioeconomic characteristics of the neighborhood have remained relatively constant. This could indicate an ongoing need for affordable housing in the area, despite the population decline.

Homewood West's LIHTC-funded affordable housing inventory plays a significant role in the neighborhood's housing landscape, covering approximately 34% of the estimated housing stock. The neighborhood has seen substantial investment in affordable housing, with an average of $7,255 per unit in federal funding. The affordable housing stock is predominantly composed of one-bedroom units, suggesting a focus on housing for smaller households.

While the neighborhood has experienced a population decline over the past decade, the median income has remained stable, and the racial composition has seen only slight changes. These demographic trends, combined with the significant presence of LIHTC-funded housing, underscore the continued importance of affordable housing in Homewood West. The long-standing presence of LIHTC projects, spanning from 1989 to 2003, demonstrates a sustained commitment to providing affordable housing options in this Pittsburgh neighborhood.