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Affordable Housing in Vian, Oklahoma: LIHTC Projects Shape Small Town's Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Vian, a small town in Oklahoma, had a population of 1,305 in 2022. The town has two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing 59 units, with 58 designated as low-income units. Based on an estimated housing inventory of 500 units, LIHTC-funded affordable housing comprises approximately 11.8% of the town's housing stock.
The two LIHTC projects in Vian are Lee Pointe Apartments, completed in 1995, and Northview Estates, completed in 2004. This indicates that affordable housing has been present in the town for nearly three decades. The 1990s and 2000s each saw the completion of one affordable housing project, demonstrating a steady, albeit slow, development of such housing over time.
Lee Pointe Apartments offers 24 units, all of which are low-income, including 2 one-bedroom and 4 two-bedroom units. Northview Estates provides 35 units, with 34 designated as low-income. Detailed unit breakdowns for Northview Estates are not available.
Over the past decade, Vian has experienced a significant population decline, from 1,698 in 2013 to 1,305 in 2022. Despite this decrease, the median income has shown an upward trend, rising from $28,786 in 2013 to $33,025 in 2022.
The racial composition of Vian has also shifted. The White population has decreased from 57% in 2013 to 39% in 2022, while the Native American population has increased from 11% to 27% during the same period. The Hispanic population has also grown from 1% to 7%.
These demographic changes, particularly the population decline and increasing median income, may partially explain why no new LIHTC projects have been developed in Vian over the past decade. The existing affordable housing units might be sufficient for the current population's needs, especially considering the overall population decrease.
Vian's affordable housing landscape is characterized by two LIHTC projects providing 59 units, covering about 11.8% of the estimated housing stock. This falls slightly short of the ideal 15-20% target for affordable housing.
The town has seen significant demographic shifts over the past decade, including population decline, increasing median income, and changes in racial composition. These factors likely influence the demand for affordable housing and may explain the lack of new LIHTC developments in recent years. As Vian continues to evolve, ongoing assessment of affordable housing needs will be crucial to ensure all residents have access to suitable housing options.
