Downtown Springfield has experienced substantial population growth, increasing from 8,084 residents in 2015 to 11,301 in 2022, a 39.8% increase. This growth suggests an increasing demand for housing in the area. Median income has also risen, from $11,817 in 2015 to $17,336 in 2022, representing a 46.7% increase. Despite this growth, the median income remains relatively low, indicating a continued need for affordable housing options.

Racial demographics in Downtown Springfield have remained relatively stable. The white population consistently represents the majority, comprising around 77-80% of residents. A slight increase in diversity has occurred, with the percentage of residents identifying as two or more races growing from 1% in 2017 to 6% in 2022.

The LIHTC funded affordable housing inventory in Downtown Springfield plays a crucial role in addressing the neighborhood's housing needs. The area has received consistent investment in affordable housing over the past three decades, focusing primarily on smaller unit types. While LIHTC funded units cover only a small percentage of the estimated housing inventory, they provide essential housing options for low-income residents. The neighborhood's growing population and rising median income, coupled with its relatively low income levels, indicate an ongoing need for affordable housing solutions. The stability in racial demographics suggests that LIHTC projects have been serving a consistent community profile over the years.