Lexington's population has remained relatively stable over the past decade, fluctuating between 11,970 and 12,619 residents. The median income has shown variability, ranging from $43,608 in 2015 to $50,945 in 2021, before decreasing to $44,765 in 2022. This recent decline in median income may indicate an increased need for affordable housing options.

The city's racial composition has remained predominantly white, consistently around 80% over the past decade. The Black population has remained steady at approximately 13-14%, while the Hispanic population has increased slightly from 0% in 2013 to 2% in recent years. Residents identifying as two or more races have maintained a small but consistent representation of about 2-3%.

Lexington's LIHTC-funded affordable housing inventory, while present, covers a small portion of the city's estimated housing stock. The two LIHTC projects completed in 2011 have provided 56 units, with just over half designated as low-income units. The city's demographic trends show a relatively stable population with some fluctuations in median income, which could influence the demand for affordable housing. While the LIHTC program has contributed to Lexington's affordable housing options, the inventory represents a small percentage of the city's total housing, suggesting potential for further development to meet affordable housing needs.