Palm River-Clair Mel has experienced steady population growth, increasing from 23,658 in 2015 to 26,400 in 2022, representing an 11.6% growth. This may indicate an increasing demand for housing, including affordable options. The median income has also risen from $39,424 in 2015 to $51,006 in 2022. Despite this increase, the continued need for affordable housing suggests that income growth may not have kept pace with rising housing costs for all residents.

The city maintains a diverse population. As of 2022, the demographic composition is approximately 40% Hispanic, 25% Black, 28% White, and 2% Asian, with small percentages of other racial groups. This diversity emphasizes the importance of providing affordable housing options that address various cultural and community needs.

Palm River-Clair Mel has developed a significant affordable housing inventory through the LIHTC program, covering about 10.44% of the estimated housing stock. The city saw steady development of affordable housing projects from 1999 to 2010, with most completed in the 2000s. The diverse unit types cater to various household sizes. While the city has experienced population growth and increasing median incomes over the past decade, the continued presence of LIHTC-funded housing indicates an ongoing need for affordable options in this diverse community.