Over the past decade, Forest Oaks has experienced fluctuations in its population, with an overall growth trend. The population increased from 4,605 in 2017 to 5,468 in 2022. Median income has also shown an upward trend, rising from $67,210 in 2017 to $89,046 in 2022, indicating improving economic conditions for residents.

Racial demographics have remained relatively stable, with a slight decrease in the white population from 81% in 2017 to 82% in 2022, and a small increase in the Black population from 12% to 13% during the same period. The Asian population and those identifying as two or more races have maintained consistent percentages.

Despite these demographic changes, there have been no new LIHTC projects in the last decade. This could be attributed to the rising median income, which may have reduced the perceived need for additional low-income housing in the area.

Forest Oaks has a single LIHTC-funded affordable housing unit, which represents a small fraction of the city's estimated housing inventory. The project, completed in 1992, has provided stable affordable housing for three decades. While the city has experienced population growth and increasing median income over the past decade, there have been no new LIHTC projects during this period. The demographic trends suggest improving economic conditions, which may have influenced the lack of recent affordable housing development through the LIHTC program.