Over the past decade, Richmond Heights has experienced population growth, increasing from 8,462 in 2018 to 9,269 in 2022. The median income has also risen significantly, from $87,465 in 2018 to $93,143 in 2022. This upward trend in both population and income may indicate a changing economic landscape in the city.

Racial demographics have remained relatively stable, with a slight increase in the white population from 76% in 2018 to 83% in 2022. The Black population has decreased from 11% to 8% during the same period. Asian and Hispanic populations have remained relatively constant.

The absence of new LIHTC projects in the last decade, combined with rising median incomes, may suggest that the need for additional low-income housing has not been as pressing in recent years. However, other affordable housing programs not covered by this data may be addressing existing needs.

Richmond Heights' LIHTC funded affordable housing inventory, while small, has been part of the city's housing landscape for over 30 years. The two existing projects provide larger units, potentially catering to families. The city has experienced population growth and rising median incomes over the past decade, which may have influenced the demand for affordable housing. While the LIHTC inventory covers a small percentage of the city's estimated housing stock, other affordable housing initiatives may be supplementing these units to meet the community's needs.