Lake Elsinore, a California city, has 615 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, with 535 designated as low-income. These units constitute approximately 2.2% of the city's estimated 27,550 housing units. The city has received $5,135,626 in project tax credits through the LIHTC program, distributed across approximately 6 projects. This equates to an average of $855,938 in federal funding per project and $8,350 per unit. Lake Elsinore's LIHTC funding represents 0.17% of California's total, indicating a small but notable contribution to the state's affordable housing efforts.

The city's commitment to affordable housing spans 24 years, from the completion of Villa Siena Apts in 1997 to the Cottages At Mission Trail in 2021. The 2010s saw significant affordable housing development, with projects such as Lakeview I and II (2011), Pottery Court (2012), and Mission Trail Apartments (2020). LIHTC-funded projects in Lake Elsinore offer diverse unit types, including 82 one-bedroom, 224 two-bedroom, 249 three-bedroom, and 6 four-bedroom units, catering to various family sizes and needs. Two projects, Lakeview I and II, specifically target the "At-Risk" population.

Lake Elsinore has experienced steady population growth, increasing from 66,412 in 2017 to 71,905 in 2022. The median income has risen from $67,988 in 2017 to $91,479 in 2022. This economic growth may have influenced the need for affordable housing options. The city's racial demographics have shifted, with the Hispanic population increasing from 48% in 2019 to 60% in 2022, while the white population decreased from 31% to 26% during the same period. These changes in population composition may have implications for housing needs and preferences.