Pine River's population has shown a general upward trend over the past decade, increasing from 2,447 in 2013 to 2,640 in 2022. The median income has also risen, from $43,652 in 2013 to $48,164 in 2022, indicating a modest improvement in the economic conditions of the city's residents.

Regarding racial demographics, Pine River has remained predominantly white, with a slight decrease from 96% in 2013 to 90% in 2022. There has been a small increase in diversity, particularly in the percentage of residents identifying as two or more races, which grew from 2% in 2013 to 7% in 2022.

No new LIHTC projects have been developed in Pine River over the past decade, despite these demographic changes. This could be attributed to various factors, including the relatively small size of the city, the modest population growth, or the availability of other affordable housing options not captured in the LIHTC data.

Pine River's LIHTC-funded affordable housing inventory consists of 30 units across two projects, representing about 3% of the estimated housing stock. The city's affordable housing development through LIHTC has remained stable since the early 2000s, with no new projects in the last decade. While the population and median income have shown modest growth, and there has been a slight increase in racial diversity, these changes have not corresponded with new LIHTC developments. The existing affordable housing units, including a mix of two and three-bedroom options, contribute to meeting some of the city's affordable housing needs, but may not fully address the potential demand for low-income housing in the community.