The population in zip code 38117 has remained relatively stable over the past decade, ranging between 25,775 and 27,277 residents. The median income has increased from $76,781 in 2013 to $91,091 in 2022, indicating growing economic prosperity in the area.

Racial demographics in zip code 38117 have shown minor changes. The white population decreased from 83% in 2016 to 78% in 2022. Concurrently, racial diversity increased slightly, with the Black population growing from 10% to 13%, and the Hispanic population from 3% to 6% during the same period.

The stable population and increasing median income suggest that the demand for affordable housing may not have significantly changed since the completion of Mendenhall Housing in 2009. The slight increase in racial diversity could potentially indicate a growing need for affordable housing options to support a more diverse community.

Zip code 38117 in Memphis has one LIHTC-funded affordable housing project, Mendenhall Housing, providing 75 low-income units. This project represents a small percentage of the area's estimated housing stock but has been a consistent presence since 2009. The zip code has experienced stable population levels and increasing median income over the past decade, along with a slight increase in racial diversity. These demographic trends provide context for understanding the affordable housing landscape in this area and may inform future decisions regarding affordable housing development.