Cleveland's population increased from 55,346 in 2010 to 62,254 in 2022, a growth of approximately 12.5%. This growth suggests a rising demand for housing, including affordable options.

Median income in Cleveland rose from $47,046 in 2013 to $56,888 in 2022. Despite this increase, the need for affordable housing persists, as evidenced by the completion of recent LIHTC projects like The Preserve At Hardwick and Waters Edge Apartments in 2016 and 2017, respectively.

Racial demographics in Cleveland have shown slight changes over the past decade. The white population decreased from 85% in 2013 to 80% in 2022, while black, Hispanic, and multiracial populations experienced small increases. This gradual diversification may influence future affordable housing needs and project planning.

Cleveland's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's estimated housing stock. The city has invested in affordable housing over nearly three decades, with a concentration of development in the late 1980s and early 1990s. Recent projects indicate an ongoing commitment to affordable housing despite rising median incomes. The diverse range of unit types in LIHTC projects suggests an effort to accommodate various household sizes within the low-income population. As Cleveland continues to grow and diversify, monitoring and adapting the affordable housing inventory to meet changing demographics and needs will be crucial.