The LIHTC funded housing inventory in Waterloo comprises 41 one-bedroom units, 38 two-bedroom units, and 2 three-bedroom units. This distribution suggests a focus on smaller household sizes in the affordable housing stock.

Waterloo's population has grown steadily from 15,169 in 2013 to 16,453 in 2022. The median income has generally increased from $76,784 in 2013 to $85,257 in 2022, with some fluctuations. The city's racial composition has remained predominantly white, consistently above 96% throughout the decade.

Despite population growth and income increases, no new LIHTC projects have been developed since 2010. This lack of development may be attributed to the relatively high median income and the small percentage of diverse populations, potentially indicating a lower perceived need for additional affordable housing units through the LIHTC program.

Waterloo's LIHTC funded affordable housing inventory represents a small portion of its overall housing stock. The city has seen three LIHTC projects developed between 1997 and 2010, providing 90 low-income units. While the population has grown and incomes have generally increased over the past decade, no new LIHTC projects have been initiated since 2010. The existing affordable housing units primarily cater to smaller households, with a majority being one and two-bedroom units. The city's demographic trends, including a high median income and lack of racial diversity, may contribute to the limited recent development of LIHTC funded housing.