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Affordable Housing Analysis: Zip Code 73018 in Chickasha, Oklahoma
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 73018, located in Chickasha, Oklahoma, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 201 total units in LIHTC funded projects, with 148 designated as low-income units. Based on the 2022 population of 20,600 and utilizing the national average household size of 2.61, an estimated 7,893 housing units exist in this zip code. LIHTC funded affordable housing comprises approximately 2.55% of the estimated housing inventory in zip code 73018.
The LIHTC projects in zip code 73018 have received $151,482 in tax credits, averaging about $753 per unit in federal funding. This represents 0.05% of Oklahoma's total LIHTC funding, indicating a modest yet significant investment in affordable housing for this area. The affordable housing presence in this zip code spans nearly two decades, with the earliest recorded project, Autumn Brooke Apartments, completed in 2003, and the most recent dated project, Chickasha Senior, finished in 2007. The mid-2000s appear to be the most active period for LIHTC project completions in this area.
The LIHTC funded projects in zip code 73018 offer a diverse range of unit types. The inventory includes 46 one-bedroom units, 53 two-bedroom units, and 8 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, the population in zip code 73018 has remained relatively stable, fluctuating between about 19,900 and 21,000 residents. The median income has shown a general upward trend, increasing from $40,944 in 2013 to $51,570 in 2022. This rise in median income might partially explain the lack of new LIHTC projects in recent years.
The racial composition of zip code 73018 has remained largely consistent, with a slight decrease in the white population from 79% in 2013 to 74% in 2022. There has been a small increase in diversity, with slight growth in Hispanic, Black, and multiracial populations. This gradual demographic shift could potentially influence future affordable housing needs.
Zip code 73018 has an established foundation of LIHTC funded affordable housing, primarily developed in the early to mid-2000s. While the current inventory covers a small percentage of the estimated housing units, it provides important low-income housing options. The area has experienced moderate income growth and slight increases in diversity over the past decade. These demographic trends, coupled with the existing affordable housing stock, will likely shape future affordable housing needs and development in this zip code.
