The affordable housing inventory in Shelby consists of 8 one-bedroom units, 56 two-bedroom units, and 18 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families. One notable project, Meadow Estates Apts I, completed in 2002, targets single parents. This project likely addresses the unique needs of this population, such as on-site childcare facilities or after-school programs.

Over the past decade, Shelby's population has shown a slight decline, decreasing from 12,989 in 2014 to 12,513 in 2022. Despite this population decrease, the median income has increased from $47,302 in 2014 to $53,264 in 2022, indicating an overall improvement in economic conditions for residents. The racial composition of Shelby has remained relatively stable, with a predominantly white population (95% in 2022). There has been a small increase in diversity, with slight growth in Asian, Hispanic, and multi-racial populations.

No new LIHTC projects have been built in Shelby since 2006. The increasing median income and stable population might suggest a reduced need for additional low-income housing in recent years. Shelby's LIHTC funded affordable housing inventory, while modest in size, provides important housing options for low-income residents. The city has seen three LIHTC projects developed over 16 years, with a focus on accommodating various family sizes. The most recent demographic trends show a slightly declining population but increasing median income, which may explain the lack of new LIHTC developments in the past decade. The current LIHTC inventory covers a small percentage of the city's estimated housing stock.