Over the past decade, Woodward Park has experienced steady population growth, increasing from 68,853 in 2013 to 73,634 in 2022. The median income has also risen significantly, from $95,532 in 2013 to $105,075 in 2022, suggesting an overall improvement in economic conditions.

The racial composition of Woodward Park has shown some changes. The white population has decreased from 60% in 2013 to 52% in 2022, while the Hispanic population has slightly increased from 21% to 25%. The Asian population has also grown from 13% to 14% during this period. These demographic shifts may influence the need for diverse affordable housing options.

Despite the rising median income, the completion of the Millbrook Apartments in 2018 indicates a continued need for affordable housing in the area. This suggests that even in neighborhoods with higher median incomes, there remains a segment of the population that benefits from LIHTC-funded affordable housing.

Woodward Park's LIHTC-funded affordable housing inventory, while modest, has been steadily present for over two decades. The neighborhood has seen two projects completed, with the most recent one in 2018 significantly expanding the available low-income units. The diverse unit mix in the Millbrook Apartments project caters to various household sizes within the low-income population.

While the neighborhood has experienced population growth and increasing median income over the past decade, the recent addition of affordable housing units suggests an ongoing need for such housing options. The changing racial composition of the neighborhood may also influence future affordable housing needs. Overall, the LIHTC program has played a role in providing affordable housing options in Woodward Park, though it covers a small percentage of the estimated housing inventory.