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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 73103 in Oklahoma City, Oklahoma, has a population of 5,065 as of 2022 and covers an area of 1.18 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 99 total units in this zip code, with 98 of these designated as low-income units. Based on the estimated housing inventory of 1,941 units, the LIHTC-funded affordable housing covers approximately 5.1% of the zip code's housing stock.
The LIHTC projects in this zip code have received $637,910 in tax credits, averaging about $6,443 per unit. This zip code accounts for 0.19% of the total LIHTC funding allocated to Oklahoma. Affordable housing has been present in this zip code since at least 1996, with the completion of the Palo Duro Apts. The most recent project, The Commons On Classen, was completed in 2016, indicating a 20-year span of LIHTC-funded development in the area. The 1990s saw the most activity, with projects like Chardonnay Apts completed in 1997.
The LIHTC-funded housing in this zip code consists of 26 efficiencies, 37 one-bedroom units, and 13 two-bedroom units. This distribution suggests a focus on smaller household sizes, which may align with the area's demographics and housing needs.
Over the past decade, the population in this zip code has increased from 4,343 in 2013 to 5,065 in 2022, a growth of about 16.6%. The median income has fluctuated, rising from $65,640 in 2013 to $71,228 in 2022, an increase of approximately 8.5%. Racial demographics have remained relatively stable, with the white population consistently representing the majority (around 75-78% in recent years). There have been slight fluctuations in other racial groups, with small increases in the Hispanic population (from 4% to 6%) and decreases in the Asian population (from 9% to 4%) over the past decade.
The most recent LIHTC project was completed in 2016, which coincides with a period of population growth and income increase in the area. This suggests that affordable housing development may have been responding to the growing population and potentially rising housing costs.
Zip code 73103 in Oklahoma City has a moderate presence of LIHTC-funded affordable housing, covering about 5.1% of the estimated housing stock. The area has seen consistent LIHTC development over two decades, with a focus on smaller units. The zip code has experienced population growth and income increases in recent years, which may influence the ongoing need for affordable housing options. The current coverage suggests there may be additional opportunities to address affordable housing needs in this growing urban area.