Builders Patch | HousingCount: Oklahoma affordable housing data and latest news
Oklahoma
Summary
Oklahoma state is facing challenges to housing affordability. For every 100 low-income renter households, there are 82 units available that are affordable to them. The median household income in the state is $37,201 whereas the median rent in the state $679. Currently, the state is short over 22,732 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.
33.9% share of renter households
40.3% share of low-income households
39.7% share of rent-burdened households
Renter population data
Renters vs homeowners
| Households | % share |
|---|---|
| Renter households | 510,477 |
| Homeowner households | 993,391 |
| Total households | 1,503,868 |
Renter households by income group
| Households | % share |
|---|---|
| Extremely low-income ≤30% AMI | 67,509 |
| Very low-income 31-50% AMI | 57,688 |
| Low-income 51-80% AMI | 80,601 |
| All low-income households <80% AMI | 205,798 |
Rent-burdened households
| Households | % share |
|---|---|
| Moderately rent-burdened | 106,066 |
| 30.0–34.9% | 38,620 |
| 35.0–39.9% | 29,330 |
| 40.0-49.9% | 38,116 |
| Severely rent-burdened | 96,403 |
| ≥50.0% | 96,403 |
| All rent-burdened households | 202,469 |
Affordable housing shortage
Rent vs median household income
| Year | Median household income ($) | Median rent ($) |
|---|---|---|
| 2010 | 26,162 | 473 |
| 2021 | 37,201 | 679 |
| Increase (2010–2021) | 42.2% | 43.6% |
Supply, demand & shortage
| Units | Quantity |
|---|---|
| Supply (current stock) | 102,465 |
| Demand (total units needed) | 125,197 |
| Shortage | 22,732 |
| Supply/demand ratio | 81.8% |
Finance institutions
Oklahoma Housing Finance Agency
Oklahoma Housing Finance Agency
100 NW 63rd Street, Suite 200
Oklahoma City, OK 73116-8250
List of loan programs
- 9% AFFORDABLE HOUSING
- TAX CREDIT
- PROGRAM
- MULTIFAMILY BONDS &
- 4% AFFORDABLE HOUSING
- TAX CREDITS
- HOME INVESTMENT
- PARTNERSHIPS PROGRAM
- NATIONAL HOUSING
- TRUST FUND
- OKLAHOMA HOUSING
- TRUST FUND
QAP document (Qualified Allocation Plan)
QAP
Oklahoma
The QAP is a document that states and a few local agencies must develop to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. Each QAP must spell out a housing finance agency’s (HFA’s) priorities and specify the criteria it will use to select projects competing for tax credits. The priorities must be appropriate to local conditions.