The LIHTC inventory in Norwalk includes a mix of unit types: 102 efficiencies, 319 one-bedroom units, and 68 two-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.

Norwalk's population has shown a declining trend over the past decade, decreasing from 107,145 in 2015 to 98,537 in 2022. Despite this population decrease, the median income has risen significantly, from $58,957 in 2015 to $94,851 in 2022.

The racial composition of Norwalk has remained relatively stable. The Hispanic population consistently represents the majority, ranging from 66% to 79% over the past decade. The Asian population has fluctuated between 9% and 17%, while the Black population has remained relatively steady at 3-5%.

The most recent LIHTC project in Norwalk was completed in 2013. The subsequent years have seen rising median incomes, which may have influenced the perceived need for additional low-income housing projects.

Norwalk's LIHTC-funded affordable housing inventory comprises 490 units across three projects, representing 1.3% of the estimated housing stock. The city has received over $3.4 million in tax credits, averaging nearly $7,000 per unit. While the population has decreased over the past decade, median incomes have risen substantially. The racial composition has remained relatively stable, with a predominantly Hispanic population. The LIHTC program has provided a mix of unit types, primarily focusing on smaller units. The last LIHTC project was completed in 2013, coinciding with the beginning of a period of rising median incomes in the city.