Over the past decade, Lolo has experienced fluctuations in its population, with an overall growth trend. The population increased from 3,713 in 2017 to 4,593 in 2022, representing a growth of about 23.7%. During this period, the median income has shown some variability, decreasing from $70,821 in 2017 to $69,243 in 2022, a slight decline of about 2.2%.

The racial composition of Lolo has remained relatively stable, with the white population consistently representing the majority. In 2022, the white population accounted for 95% of the total, while other racial groups maintained small percentages. The Hispanic population has remained steady at around 2-3% over the past few years.

The LIHTC project in Lolo was completed in 2011, predating the most recent demographic trends. The subsequent population growth and income fluctuations may indicate evolving housing needs in the community.

Lolo's LIHTC-funded affordable housing inventory provides 4 low-income units through the Lolo Vista Apartments project. The city received $619,754 in tax credits, representing 0.34% of Montana's total LIHTC funding. Despite population growth over the past decade, there have not been additional LIHTC projects since 2011. The demographic data shows a growing population with a slight decrease in median income, which could potentially indicate a need for more affordable housing options in the future. Other housing programs not covered in this analysis may also be contributing to the affordable housing inventory in Lolo.