South Gardens has experienced notable demographic shifts over the past decade. The population has decreased from 345 in 2015 to 238 in 2022, representing a decline of about 31%. Despite this population decrease, the median income has shown a significant increase, rising from $13,300 in 2015 to $27,964 in 2022, more than doubling over this period.

Racial demographics have also evolved. While the neighborhood remains predominantly Black, the percentage has decreased from 80% in 2015 to 71% in 2022. Conversely, the White population has increased from 10% to 25% during the same period. The neighborhood has also seen a small increase in Hispanic residents and those identifying as two or more races in recent years.

These demographic changes, particularly the rising median income and shifting racial composition, may influence future affordable housing needs in South Gardens. However, no new LIHTC projects have been developed in the last decade, which could be due to various factors including changing neighborhood dynamics or shifts in housing policy priorities.

South Gardens exhibits a significant presence of LIHTC-funded affordable housing, with 11 units covering approximately 12% of the estimated housing inventory. The single LIHTC project, Carr Street Apts, has been providing affordable housing options since 1995, focusing on one and two-bedroom units. Over the past decade, the neighborhood has experienced a population decrease, a substantial increase in median income, and shifts in racial composition. These demographic changes may impact future affordable housing needs and developments in South Gardens. The existing LIHTC-funded housing continues to play a crucial role in providing affordable options for residents in this evolving neighborhood landscape.