Garfield Park has experienced demographic changes over the past decade. The population has remained relatively stable, decreasing slightly from 21,003 in 2010 to 20,642 in 2022. However, the median income has increased significantly, rising from $37,991 in 2013 to $48,459 in 2022, indicating an overall improvement in economic conditions.

The racial composition of the neighborhood has also changed. The Hispanic population has increased from 43% in 2013 to 47% in 2022, becoming the largest ethnic group in the area. The Black population has decreased slightly from 21% to 18%, while the White population has remained relatively stable at around 30-31%.

The introduction of LIHTC-funded affordable housing in 2019 coincides with a period of rising median income and changing racial demographics. This suggests that the Garfield Park Lofts project may have been implemented to maintain housing affordability in the face of increasing economic pressures and to support the diverse community in the neighborhood.

Garfield Park's affordable housing landscape is characterized by a single LIHTC-funded project, Garfield Park Lofts, which provides 36 low-income units. While this represents a small percentage of the estimated housing inventory, it marks an important step in addressing affordable housing needs in the neighborhood. The project's recent completion in 2019 aligns with demographic trends showing increasing median income and a growing Hispanic population. As the neighborhood continues to evolve, monitoring the impact of this LIHTC project and considering future affordable housing initiatives will be crucial for maintaining a diverse and economically balanced community.