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Affordable Housing Analysis in Oklahoma City's Zip Code 73109: A Single LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 73109 in Oklahoma City, Oklahoma, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 9 total affordable housing units, all designated as low-income units. Based on the 2022 population of 20,200 and an estimated 7,739 housing units, the LIHTC-funded affordable housing represents approximately 0.12% of the zip code's estimated housing inventory.
The LIHTC program has allocated $334,160 in tax credits to affordable housing projects in this zip code. This equates to an average federal funding of $37,129 per unit. Zip code 73109 accounts for 0.1% of the total LIHTC funding in Oklahoma.
The Village At Oakwood, completed in 2009, is the only LIHTC-funded project in this zip code. This project has provided affordable housing options for over a decade. All 9 units in this development are one-bedroom apartments, serving individuals or small households.
Over the past decade, zip code 73109 has experienced population fluctuations, with a peak of 23,850 residents in 2018 and a decline to 20,200 by 2022. Despite these changes, the median income has shown a consistent upward trend, increasing from $33,192 in 2017 to $39,215 in 2022.
The racial composition of the area has remained relatively stable, with a significant Hispanic population comprising around 60% of residents. The white population has maintained a steady presence at approximately 27-28% over the last few years. There has been a slight increase in the Black population, rising from 4% in 2017 to 8% in 2022.
Zip code 73109 in Oklahoma City features a single LIHTC-funded affordable housing project, The Village At Oakwood, which provides 9 one-bedroom units. This represents a small fraction of the estimated housing inventory but contributes to addressing affordable housing needs in the area. The zip code has experienced population fluctuations and income growth over the past decade, with a consistently diverse racial composition. These demographic trends may influence future affordable housing needs and development in the area.
