Over the past decade, Freeport has experienced substantial population growth, increasing from 5,308 in 2010 to 12,243 in 2022. This rapid expansion has been accompanied by a significant increase in median income, rising from $50,167 in 2013 to $68,194 in 2022.

The racial composition of Freeport has remained relatively stable, with a slight decrease in the white population from 90% in 2013 to 79% in 2022. There has been a notable increase in the Hispanic population, growing from 4% in 2013 to 13% in 2022. Despite these demographic shifts and the considerable population growth, there have been no new LIHTC projects in the last decade.

Freeport's LIHTC funded affordable housing stock, while established in the early 1990s, represents a small portion of the city's estimated housing inventory. The city has experienced rapid population growth and increased median income over the past decade, potentially indicating a changing landscape for housing needs. While the existing LIHTC projects continue to provide 50 low-income units, the lack of new affordable housing development in recent years, coupled with significant population growth, suggests a potential area for further investigation into the current affordable housing needs of the community.