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Affordable Housing in Seminole, Oklahoma: LIHTC Impact on a Stable Population
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Seminole, Oklahoma, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that addresses the housing needs of its lower-income residents. The city has 90 affordable housing units, with 89 designated as low-income units. Based on the 2022 population of 9,575 and an estimated 3,669 housing units, LIHTC-funded affordable housing represents approximately 2.45% of the city's estimated housing inventory.
Seminole has received $403,754 in project tax credits through the LIHTC program. With three approximate projects, this translates to an average of $134,585 per project and $4,486 per unit. The city holds 0.12% of Oklahoma's total LIHTC funding, indicating a relatively small share of the state's affordable housing resources.
Affordable housing has been present in Seminole since at least 2002, with the most recent project completed in 2006. The decade of the 2000s saw the most affordable housing projects completed, with all three known projects built during this period. These projects include Brookstone Park Of Seminole (2002), Seminole Springs Apts (2004), and Broadway Pointe Apts (2006).
The LIHTC-funded projects in Seminole offer a variety of unit types. There are 46 two-bedroom units, 33 three-bedroom units, and 5 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes within the affordable housing inventory.
Over the past decade, Seminole's population has fluctuated, peaking at 10,352 in 2015 and declining to 9,575 by 2022. The median income has shown a slight increase from $35,695 in 2013 to $40,365 in 2022. Racial demographics have remained relatively stable, with a slight decrease in the white population (from 71% in 2013 to 63% in 2022) and a small increase in the Native American population (from 13% in 2013 to 20% in 2022).
The lack of new LIHTC projects in the last decade could be attributed to the relatively stable population and modest income growth, which may not have signaled a pressing need for additional affordable housing units.
Seminole's LIHTC-funded affordable housing inventory provides 90 units for low-income residents. The projects were all completed in the early 2000s, focusing on two to four-bedroom units. The city's demographic trends over the past decade show a slight population decline and modest income growth, which may explain the absence of new LIHTC projects in recent years. The existing affordable housing stock represents a small but significant portion of the city's estimated housing inventory, contributing to the diverse housing needs of Seminole's residents.
