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Predicting population responses to environmental change is an ongoing challenge in ecology. Studies investigating the links between fitness-related phenotypic traits and demography have shown that trait dynamic responses to environmental change can sometimes precede population dynamic responses and thus can be used as an early warning signal. However, it is still unknown under which ecological and evolutionary circumstances shifts in fitness-related traits can precede population responses to environmental perturbation. Here, we take a trait-based demographic approach and investigate both trait and population dynamics in a density-regulated population in response to a gradual change in the environment. We explore the ecological and evolutionary constraints under which shifts in fitness-related traits precede a decline in population size. We show both analytically and with experimental data that under medium to slow rates of environmental change, shifts in a trait value can precede population decline. We further show the positive influence of environmental predictability, net reproductive rate, plasticity, and genetic variation on shifts in trait dynamics preceding potential population declines. These results still hold under nonconstant genetic variation and environmental stochasticity. Our study highlights ecological and evolutionary circumstances under which a fitness-related trait can be used as an early warning signal of an impending population decline.