The 1990s marked the most significant period of affordable housing development in Cary, with numerous projects completed in 1994, including West Park St. Apartments and Krendle Woods. The LIHTC-funded housing stock in Cary is diverse, comprising 1 efficiency unit, 143 one-bedroom units, 197 two-bedroom units, 90 three-bedroom units, and 16 four-bedroom units.

Cary's population has grown substantially from 151,560 in 2013 to 179,256 in 2022. The median income has increased from $89,405 in 2013 to $125,414 in 2022. The racial composition has changed, with the Asian population increasing from 14% in 2013 to 23% in 2022, while the White population decreased from 66% to 57% during the same period.

Despite the absence of new LIHTC projects in the last decade, Cary's economic growth and rising median income suggest potential changes in affordable housing needs. The increasing diversity in the population, particularly the growth in the Asian community, may indicate evolving housing preferences and requirements.

Cary's LIHTC-funded affordable housing inventory, while modest compared to the overall housing stock, demonstrates a long-term commitment to providing low-income housing options. The city's rapid population growth, rising median income, and changing racial demographics present both challenges and opportunities for future affordable housing initiatives. As Cary continues to develop, monitoring these trends and adapting housing strategies to meet the changing needs of its diverse population will be crucial.