Over the past decade, the population in zip code 83404 has grown steadily, increasing from 21,110 in 2013 to 25,711 in 2022. This 21.8% growth may suggest an increasing demand for housing, including affordable options. Median income has fluctuated but shown an overall upward trend, rising from $67,461 in 2013 to $76,270 in 2022. This increase in median income could potentially impact the need for affordable housing, though it is important to note that income growth does not necessarily benefit all segments of the population equally.

The racial composition of zip code 83404 has remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 83% in 2022. The Hispanic population has experienced a modest increase from 8% to 12% during this period. These demographic shifts, while gradual, may influence the diverse housing needs of the community.

Zip code 83404 in Idaho Falls has an established LIHTC-funded affordable housing inventory, representing about 4.9% of the estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with projects ranging from efficiencies to three-bedroom units. The population has grown and median income has increased, while the racial composition has remained relatively stable with a slight increase in diversity. These factors collectively suggest an ongoing need for affordable housing options to serve the evolving community demographics and economic conditions in zip code 83404.