The 2010s saw the most recent affordable housing project completion in Lansing, with Covington Woods Apartments being a significant addition to the city's affordable housing inventory.

Lansing's population has experienced minor fluctuations over the past decade, reaching a peak of 13,271 in 2019 before decreasing to 12,687 in 2022. The median income has generally increased, attaining $92,411 in 2022. Racial demographics have remained relatively constant, with the white population constituting the majority. However, a slight increase in diversity has been observed, particularly in the Black and Hispanic populations.

The absence of new LIHTC projects in recent years may be attributed to the city's comparatively high median income, which has consistently exceeded $90,000 since 2013. This economic prosperity might have reduced the perceived necessity for additional low-income housing developments.

Lansing's LIHTC-funded affordable housing inventory represents a consistent effort to address low-income housing needs, despite its modest scale. The city's two LIHTC projects, developed over a nine-year period, establish a foundation for affordable housing. However, the lack of recent projects, combined with rising median incomes and relatively stable demographics, suggests a potential shift in affordable housing priorities or needs within the community. This analysis emphasizes the importance of continuously evaluating and adapting affordable housing strategies to align with evolving demographic and economic trends.