Downtown Dubuque has experienced significant demographic changes over the past decade. The population decreased from 1,219 in 2014 to 756 in 2022, a 38% decline. Despite this population decrease, the median income increased substantially from $21,314 in 2014 to $40,153 in 2022, nearly doubling over this period.

Racial demographics in the neighborhood have also shifted. The white population percentage remained relatively stable, decreasing slightly from 69% in 2014 to 62% in 2022. The Black population percentage increased from 15% in 2014 to a peak of 36% in 2019, before decreasing to 8% in 2022. The Hispanic population grew from 5% in 2014 to 13% in 2022, indicating increasing diversity in the neighborhood.

These demographic changes, particularly the rising median income and shifting racial composition, may indicate evolving housing needs in the neighborhood. The absence of new LIHTC projects in the last decade could be related to the increasing median income, which might have reduced the perceived need for additional affordable housing units.

Downtown Dubuque's affordable housing landscape is characterized by a significant LIHTC presence, with nearly a third of the estimated housing inventory being LIHTC-funded. The neighborhood experienced active development of affordable housing in the late 2000s, resulting in a mix of unit types catering to various household sizes. Despite a declining population over the past decade, the area has experienced a substantial increase in median income and shifts in racial demographics. These changes may have influenced the lack of new LIHTC developments in recent years, potentially signaling a changing affordable housing landscape in Downtown Dubuque.