Over the past decade, Davis's population has remained relatively stable, fluctuating between 4,300 and 4,800 residents. The median income has shown an upward trend, increasing from $43,335 in 2013 to $51,103 in 2022.

Regarding racial distribution, the city has maintained a predominantly white population, though there has been a slight decrease from 76% in 2013 to 70% in 2022. The Native American population has seen a notable increase from 6% to 12% during this period. Other racial groups have remained relatively stable, with slight fluctuations in Hispanic, Black, and multiracial populations.

The completion of The Villas of Hanover in 2017 aligns with a period of relative population stability and increasing median income in the city. This suggests that the LIHTC project was developed in response to an identified need for affordable housing options during a time of economic growth.

Davis's LIHTC-funded affordable housing, while modest in scale, provides 36 low-income units, primarily consisting of two- and three-bedroom apartments. The single project, The Villas of Hanover, represents a significant investment in affordable housing for the community. The LIHTC units cover a small percentage of the city's estimated housing stock. The demographic trends over the past decade, including a stable population and increasing median income, provide context for the timing of this affordable housing development.