Salem's population has remained relatively stable over the past decade, with a slight decrease from 9,180 in 2013 to 8,991 in 2022. During this period, the median income has shown an overall increase, rising from $44,929 in 2013 to $55,441 in 2022. This trend indicates a general improvement in the economic conditions of the city's residents.

The racial composition of Salem has remained predominantly white, with a slight decrease from 95% in 2013 to 94% in 2022. There has been a small increase in diversity, with the Black population growing from 1% to 3% and the two or more races category remaining steady at 2% over this period.

No new LIHTC projects have been developed in Salem since 2008, despite these demographic changes. This could be attributed to various factors, including the relatively stable population and increasing median income, which may have reduced the perceived need for additional affordable housing units.

Salem's LIHTC-funded affordable housing inventory consists of a single project, the Manor At Salem Woods, which provides 40 units of affordable housing. This represents a small portion of the city's estimated housing stock, but it has been serving the community for over a decade. The city has experienced modest demographic changes in the past ten years, including a slight population decrease and an increase in median income. These factors, along with the existing affordable housing stock, may have influenced the lack of new LIHTC developments in recent years. Other affordable housing programs not covered in this analysis may also be contributing to meeting the city's low-income housing needs.