Gramercy Park's population has shown a slight downward trend, decreasing from 20,599 in 2014 to 19,060 in 2022. Despite this decrease, the median income has remained consistently high, rising from $126,456 in 2014 to $138,252 in 2022. The racial composition has experienced minor changes, with the white population decreasing from 73% in 2014 to 69% in 2022, while the Asian population increased from 13% to 16%. Hispanic and Black populations saw small increases from 5% to 7% and 3% to 5%, respectively.

The high median income and predominantly white population indicate that Gramercy Park remains an affluent neighborhood. This demographic profile may explain the limited development of LIHTC funded affordable housing in recent years, as the neighborhood's overall economic status might not align with typical criteria for extensive low-income housing development.

Gramercy Park's LIHTC funded affordable housing inventory provides 39 units of affordable housing in this high-income Manhattan neighborhood. The two LIHTC projects, completed in the 2000s, offer a mix of unit sizes primarily catering to smaller households. Despite the neighborhood's overall affluence and high median income, these affordable units contribute to maintaining some level of economic diversity in the area. The demographic trends over the past decade, including slight population decrease and consistent high income levels, provide context for the limited recent development of LIHTC funded housing in Gramercy Park.