First Ward has experienced significant demographic changes over the past decade. The population increased from 2,447 in 2013 to 3,757 in 2022, a 53.5% growth. Despite this increase, the median income remained relatively stable, decreasing slightly from $92,831 in 2013 to $82,532 in 2022.

Racial demographics have shifted during this period. The white population decreased from 61% in 2013 to 48% in 2022, while the Black population increased from 31% to 38%. The Asian population grew from 1% to 6%, indicating increasing diversity in the neighborhood.

These demographic changes, particularly the population growth and slight decrease in median income, suggest a potential increasing need for affordable housing options in First Ward. However, no new LIHTC projects have been developed in the neighborhood since 2000, which may indicate that other affordable housing programs or initiatives could be addressing this need.

First Ward's LIHTC funded affordable housing inventory, while modest in size, has been a consistent presence in the neighborhood for over two decades. The single project, First Ward Place II, provides a diverse range of unit types to accommodate various household sizes. As the neighborhood has experienced significant population growth and demographic shifts over the past decade, the need for affordable housing may have increased. While LIHTC funded projects have not expanded in recent years, the existing inventory continues to contribute to the neighborhood's affordable housing options. Further research into other affordable housing initiatives in First Ward would provide a more comprehensive understanding of how the neighborhood is addressing its evolving housing needs.