The affordable housing inventory in Lake Forest consists of 58 one-bedroom units, 83 two-bedroom units, and 59 three-bedroom units. No efficiencies or four-bedroom units are reported in the LIHTC funded projects.

Lake Forest's population has grown steadily, increasing from 77,482 in 2010 to 85,635 in 2022. The median income has risen significantly, from $83,544 in 2013 to $128,033 in 2022. This substantial increase in median income might suggest a decreasing need for affordable housing in recent years.

Racial distribution data from 2022 shows that the city is diverse, with 50% White, 21% Asian, 20% Hispanic, and smaller percentages of other racial groups. This diversity might indicate a need for culturally sensitive affordable housing options.

Lake Forest's LIHTC funded affordable housing inventory, while relatively small compared to the overall housing stock, has been a consistent presence for over two decades. The city has experienced significant economic growth in recent years, as evidenced by rising median incomes. However, the diversity of the population suggests that segments of the community could still benefit from affordable housing options. The LIHTC program has provided a foundation for affordable housing in Lake Forest, contributing to the city's housing diversity and potentially supporting its lower-income residents.