Over the past decade, the zip code has experienced slight fluctuations in population, with a small overall decrease from 22,526 in 2018 to 21,554 in 2022. Median income has shown some variability, ranging from $73,839 to $84,148 during this period.

The racial composition of the area has shifted notably. The white population decreased from 54% in 2018 to 50% in 2022, while the Black population increased from 23% to 28%. The Hispanic population remained relatively stable, fluctuating between 14% and 17%. The Asian population held steady at 5%.

These demographic changes, particularly the increase in racial diversity and the fluctuations in median income, may indicate evolving housing needs in the area. However, no new LIHTC projects have been developed in the past decade to address these potential changes.

Zip code 38133 in Bartlett, Tennessee has a single LIHTC-funded affordable housing project that has been serving the community for over two decades. While it provides a modest contribution to the area's affordable housing stock, the changing demographics and income levels in recent years suggest there may be evolving housing needs in the community. The mix of unit types in the existing project demonstrates an effort to accommodate diverse household sizes within the affordable housing framework.