Over the past decade, James City has experienced a slight decline in population, from 5,763 in 2013 to 5,297 in 2022. The median income has fluctuated, reaching a high of $76,114 in 2013 and a low of $59,014 in 2018, before settling at $65,001 in 2022.

Racial demographics have shown some shifts. The white population has decreased from 79% in 2013 to 68% in 2022, while the Black population has increased from 12% to 15%. The Hispanic population has grown from 3% to 10%, and the Asian population has increased slightly from 0% to 2%. The percentage of residents identifying as two or more races has also increased from 0% to 5%.

These demographic changes, particularly the increase in diversity and fluctuations in median income, may indicate evolving affordable housing needs in the community. However, no new LIHTC projects have been developed in the last decade to address these potential changes.

James City's LIHTC funded affordable housing inventory consists of one project, Landmark Apts, providing 32 low-income units. This covers a small percentage of the city's estimated housing stock. The project has been serving the community since 1987, offering a mix of one-bedroom and two-bedroom units. While demographic shifts over the past decade suggest potential changes in affordable housing needs, no new LIHTC projects have been developed during this period. The city's share of state LIHTC funding is minimal at 0.01%, indicating potential opportunities for future affordable housing development to address evolving community needs.