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Affordable Housing in Duncan, Oklahoma: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Duncan, Oklahoma, maintains a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC portfolio comprises 186 total units, of which 105 are designated as low-income units. Based on the 2022 population of 25,766 and an estimated housing inventory of 9,872 units, LIHTC funded affordable housing represents approximately 1.9% of the city's estimated housing stock.
Duncan has received $102,588 in project tax credits through the LIHTC program. With approximately 5 projects, this averages to about $20,518 per project or $551 per unit. The city holds 3% of Oklahoma's total LIHTC funding, indicating a modest contribution to the state's affordable housing efforts.
The LIHTC program has been active in Duncan for nearly three decades. The earliest recorded project, Elm Terrace Apts, was completed in 1992, and the most recent, Duncan Terrace, was finished in 2019. The 2000s saw significant activity, with The Gardens At Duncan Pt completed in 2003.
The LIHTC funded housing in Duncan predominantly consists of two-bedroom units, with 120 such units available. There are also 14 one-bedroom units and 4 three-bedroom units, providing a mix of options for different household sizes.
Duncan's population has remained relatively stable over the past decade, with a slight decrease from 26,364 in 2015 to 25,766 in 2022. During this period, the median income has shown an upward trend, rising from $44,679 in 2015 to $53,194 in 2022. This increase in median income might suggest a growing need for affordable housing options for lower-income residents.
The racial distribution in Duncan has remained largely consistent. There has been a slight decrease in the white population from 78% in 2015 to 76% in 2022. The Hispanic population has increased from 9% to 10%, and those identifying as two or more races have increased from 4% to 7%. These demographic shifts, though minor, could influence the demand for diverse affordable housing options.
Duncan's LIHTC funded affordable housing inventory, while modest in scale, provides important housing options for low-income residents. The program has been active in the city for nearly 30 years, with projects spanning from 1992 to 2019. The majority of LIHTC units are two-bedroom apartments, catering to small families or individuals. While the LIHTC funded units represent a small percentage of the city's estimated housing stock, they play a crucial role in addressing affordable housing needs. The city's demographic trends, including a stable population and increasing median income, suggest an ongoing need for affordable housing options to ensure housing accessibility for all income levels.
