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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tulsa, Oklahoma has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has contributed to the creation of 2,454 total units, with 2,161 of these designated as low-income units. Based on the estimated housing inventory of 158,292 units, the LIHTC-funded affordable housing covers approximately 1.55% of the city's housing stock.
Tulsa has received $17,369,220 in project tax credits for affordable housing through the LIHTC program. With approximately 37 projects, this translates to an average federal funding of about $469,438 per project and $7,078 per unit. Tulsa holds 5.2% of the total state funding for LIHTC projects in Oklahoma.
The LIHTC program has been active in Tulsa for nearly three decades. The earliest recorded project, Bryant Court Apartments, was completed in 1992, while the most recent project, St. Thomas Square and Worthington Townhouses, was finished in 2018. This demonstrates a long-term commitment to affordable housing in the city.
The 2000s saw the most activity in LIHTC-funded affordable housing development in Tulsa. Notable projects from this period include Brightwaters Apartments, Cornerstone Village, and Osage Center/Country Club Gardens, all completed in 2004.
The LIHTC-funded housing in Tulsa offers a diverse range of unit types. The inventory includes 487 one-bedroom units, 829 two-bedroom units, 143 three-bedroom units, and 33 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and living arrangements.
Over the past decade, Tulsa's population has grown steadily, increasing from 399,274 in 2014 to 413,142 in 2022. During this period, the median income has also risen, from $42,803 in 2014 to $54,040 in 2022, indicating an overall improvement in economic conditions.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 55% in 2014 to 51% in 2022, and small increases in the Hispanic population (16% to 18%) and those identifying as two or more races (7% to 9%). These demographic shifts may influence the ongoing need for diverse affordable housing options.
Despite the population growth and income increase, the construction of new LIHTC projects has slowed in recent years, with the last recorded project completed in 2018. This could suggest that other affordable housing initiatives are being pursued or that the focus has shifted to maintaining and renovating existing units.
Tulsa's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The program has been active for nearly 30 years, providing a variety of unit types to meet diverse housing needs. While the pace of new LIHTC projects has slowed in recent years, the existing inventory continues to play a crucial role in providing affordable housing options. As Tulsa's population continues to grow and diversify, ongoing assessment of affordable housing needs will be essential to ensure adequate housing options for all residents.