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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 74429 in Oklahoma covers an area of 88.26 square miles with a population of 15,180 as of 2022. This zip code contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing, totaling 166 units, of which 163 are designated as low-income units. Based on an estimated housing inventory of 5,816 units, LIHTC funded affordable housing represents approximately 2.86% of the zip code's housing stock.
The zip code features four LIHTC funded projects: Carriage Crossing, Country Village Apts, Coweta Apts, and Steeplechase Apts. The earliest known completion date for these projects is 1997, with Carriage Crossing, followed by Country Village Apts in 1998. This indicates that affordable housing has been present in the zip code for at least 25 years.
The inventory of LIHTC funded units in this zip code primarily consists of one-bedroom and two-bedroom units, with 70 one-bedroom units and 96 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, the zip code has experienced steady population growth, increasing from 13,497 in 2013 to 15,180 in 2022. The median income has also shown an overall upward trend, rising from $58,667 in 2013 to $64,278 in 2022, with some fluctuations in between.
Racial demographics have remained relatively stable, with the white population consistently representing the majority at around 73-77% throughout the decade. There has been a slight increase in diversity, with small growths in the Asian, Black, and Hispanic populations, as well as those identifying as two or more races.
The consistent population growth and rising median income may suggest an increasing need for affordable housing options to ensure housing accessibility for lower-income residents amid potential rising housing costs.
Zip code 74429 in Oklahoma has a modest LIHTC funded affordable housing inventory, covering about 2.86% of the estimated housing stock. The area has seen steady population growth and increasing median incomes over the past decade, which could indicate a continued need for affordable housing options. The existing LIHTC projects, with a focus on one and two-bedroom units, have been contributing to the area's affordable housing needs for at least 25 years. As the community continues to grow and diversify, monitoring the balance between affordable housing supply and demand will be crucial for maintaining housing accessibility for all residents.