Greater Prospect has experienced minor demographic shifts over the past decade. The population has remained relatively stable, fluctuating between 2,864 and 3,692 residents. Median income has shown an overall upward trend, increasing from $49,298 in 2013 to $63,230 in 2022, potentially indicating improving economic conditions for some residents.

Racial distribution in the neighborhood has remained predominantly white, decreasing slightly from 88% in 2013 to 80% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 8% to 10% and the percentage of residents identifying as two or more races increasing from 1% to 5% during this period.

The stability of the LIHTC inventory over the past decade, with no new projects built, may be related to the overall population stability and increasing median income. However, the persistent need for affordable housing is evident, as the existing LIHTC units continue to serve the community.

Greater Prospect's affordable housing landscape is characterized by a single LIHTC project, the Heartland Park Elderly Living Center, which has been serving the community for over 20 years. This project provides 101 low-income units, primarily one-bedroom apartments, covering about 8.5% of the estimated housing inventory. While demographic trends show a relatively stable population and increasing median income, the continued presence of these affordable units suggests an ongoing need for low-income housing options in the neighborhood. The racial composition has become slightly more diverse over the past decade, which may influence future housing needs and policies in Greater Prospect.