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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 74006 in Bartlesville, Oklahoma exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 216 affordable units, all classified as low-income units. This zip code encompasses 93.38 square miles and had a population of 27,774 in 2022.
The estimated housing inventory of 10,641 units in zip code 74006 includes approximately 2.03% LIHTC funded affordable housing. This percentage indicates that while LIHTC has contributed to affordable housing in the area, there may be additional demand for affordable options.
The LIHTC projects in zip code 74006 have received $24,313,410 in tax credits, averaging $112,562 per unit. This investment represents 7.27% of Oklahoma's total LIHTC funding, highlighting the zip code's significance in the state's affordable housing landscape.
The LIHTC funded projects in zip code 74006 offer a variety of unit types, including 40 one-bedroom units, 68 two-bedroom units, and 32 three-bedroom units. This range accommodates various household sizes. Two of the three LIHTC projects in this zip code, Willow Creek Apartments and Willow Park Apartments, were completed in 2014, indicating a concentrated effort to increase affordable housing options that year.
The population in zip code 74006 has grown steadily over the past decade, increasing from 26,339 in 2013 to 27,774 in 2022. Median income has also risen, from $66,571 in 2013 to $70,780 in 2022. Despite this income growth, the presence of LIHTC projects suggests an ongoing need for affordable housing options for lower-income residents.
The racial composition of zip code 74006 has remained relatively stable, with the white population constituting the majority (75% in 2022). There has been a slight increase in diversity, with small growth in Asian, Hispanic, and Native American populations. This demographic stability may have influenced the consistent need for affordable housing options.
Zip code 74006 in Bartlesville, Oklahoma has received significant LIHTC investment, resulting in 216 affordable units. These projects represent a substantial portion of the state's LIHTC funding and provide a range of unit sizes to meet diverse housing needs. The completion of two major projects in 2014 marked a significant expansion of affordable housing options in the area. While LIHTC funded units comprise only a small percentage of the estimated housing inventory, they play an important role in addressing affordable housing needs in this growing community.