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Norman's Affordable Housing Landscape: LIHTC Inventory and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Norman, Oklahoma, home to the University of Oklahoma, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 895 total units, with 738 designated as low-income units. This represents approximately 1.8% of the city's estimated 49,664 housing units. Norman has received $1,170,083 in project tax credits through the LIHTC program, averaging $117,008 per project and $1,307 per unit. The city holds 0.35% of Oklahoma's total LIHTC funding.
The affordable housing development in Norman spans nearly two decades, from 1998 to 2016. The earliest projects, Emerald Greens and Senior Cottages of Norman, were completed in 1998, while the most recent, Bocage Apartments, was finished in 2016. The late 1990s and early 2000s saw the most activity in affordable housing construction.
Norman's LIHTC funded housing inventory includes 1 efficiency unit, 335 one-bedroom units, 399 two-bedroom units, and 55 three-bedroom units. This distribution indicates a focus on accommodating small families and individuals.
Norman's population has grown steadily from 118,046 in 2014 to 129,624 in 2022. The median income has increased from $52,240 in 2014 to $61,030 in 2022, suggesting improved economic conditions for many residents. Racial demographics have remained relatively stable, with a slight decrease in the white population from 74% in 2014 to 68% in 2022. There has been a small increase in diversity, particularly in the Asian and Hispanic populations, and those identifying as two or more races.
Despite population growth and demographic shifts, no new LIHTC projects have been recorded since 2016. This may indicate changing priorities in housing development or a shift in funding mechanisms for affordable housing in the area.
Norman's LIHTC funded affordable housing inventory provides important low-income housing options for the community. The city has seen consistent development of affordable housing projects from the late 1990s through the mid-2010s, focusing on smaller units suitable for individuals and small families. The lack of recent LIHTC projects, coupled with demographic trends showing population growth and increasing median income, suggests a potential need for reassessment of affordable housing strategies to ensure alignment with the evolving needs of Norman's diverse and growing population.
