Lathrop Homes has experienced demographic shifts over the past decade. The population peaked in 2017 at 4,358 residents and has since decreased to 3,676 in 2022. Despite this population decline, the median income has shown an upward trend, increasing from $137,066 in 2013 to $155,252 in 2022.

The racial composition of the neighborhood has also changed. The white population has decreased from 71% in 2013 to 63% in 2022. The Asian population has increased from 9% to 13%, while the Hispanic population has remained relatively stable, moving from 17% to 14% during this period. The Black population has fluctuated, rising from 3% in 2013 to 16% in 2019, before settling at 8% in 2022.

These demographic changes, particularly the rise in median income, may explain why no new LIHTC projects have been developed in the neighborhood since 2006. The increasing income levels could indicate a reduced need for additional affordable housing units in recent years.

Lathrop Homes demonstrates a significant presence of LIHTC funded affordable housing, with 184 units contributing to about 13.1% of the estimated housing inventory. The two LIHTC projects, both completed in 2006, have received substantial federal investment. The unit mix predominantly favors efficiency and one-bedroom apartments, suggesting a focus on smaller households. Over the past decade, the neighborhood has experienced a slight population decrease, an increase in median income, and shifts in racial composition. These demographic changes may have influenced the lack of new LIHTC developments since 2006, as the neighborhood's economic profile has evolved.