Village 5 has experienced significant population growth over the past decade, increasing from 1,177 residents in 2015 to 2,494 in 2022, representing a 112% increase. Despite this growth, the median income has remained relatively stable, fluctuating between $35,000 and $47,000 annually.

The racial composition of the neighborhood has changed over the past decade. The Black population increased from 19% in 2015 to 27% in 2022, while the Asian population remained relatively stable at around 24-26%. The Hispanic population increased from 18% in 2015 to 28% in 2022. Conversely, the White population decreased from 24% to 12% during the same period.

These demographic shifts, particularly the growing population and stable median income, suggest an ongoing need for affordable housing in the area. The increase in minority populations may also indicate changing housing needs and preferences within the community.

Village 5 in Sacramento demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 350 total units, of which 239 are low-income, these developments cover a substantial portion of the neighborhood's estimated housing inventory. The area saw active affordable housing development in the early to mid-2000s, with a mix of unit types catering to diverse household sizes. The neighborhood has experienced considerable population growth and demographic shifts over the past decade, suggesting an ongoing need for affordable housing options. The stable median income, despite population growth, further underscores the importance of maintaining and potentially expanding affordable housing initiatives in Village 5.