How to watch College Football Playoff Selection show

NewsOK: Oklahoma City News, Sports, Weather & Entertainment

Oklahoma affordable housing needs go unmet

EDMOND — The state's affordable housing need grew even as population growth slowed due to the crude oil price slide and economic downturn, according to an update of the comprehensive Oklahoma Housing Needs Assessment released a year ago.

David Puckett, senior vice president at JLL Valuation & Advisory Services in Tulsa, gave updated figures Thursday at the Commercial Real Estate Summit presented by the Central Oklahoma Commercial Association of Realtors at the University of Central Oklahoma.

The study, the first broad look at state housing in 15 years, found that Oklahoma would need 66,821 housing units, including 43,942 owned and 22,879 rented, between 2015 and 2020.

The study was commissioned by the state Commerce Department and the Oklahoma Housing Finance Agency. It is available, with detailed information for each of the state's 77 counties, at oklahomahousingneeds.org.

Almost across the board, neither projected population growth nor construction needs were met in 2016, although there were more single-family houses built last year than the forecast annualized need.

Affordable housing — defined as rentable for less than 60 percent of area median income — does tend to be built "in areas of high poverty, because that's where land is affordable," Puckett said, including urban infill areas. "There's just no incentive to build in places where land is expensive."

But nowhere is the need being met, he said.

Puckett provided these statistics:

Population

•The statewide population forecast for 2015-20, annualized, was 0.81 percent, while actual growth 2015-2016 was 0.41 percent.

•The regional five-year growth forecast (Oklahoma, Canadian, Cleveland, Grady, Lincoln, Logan, McClain and Pottawatomie counties) was 1.27 percent annually; actual 2015-16 growth was 1.17 percent.

•The Oklahoma County five-year forecast was for 1.29 percent growth; actual 2015-16 growth was 0.9 percent.

Construction

•Housing units needed per year 2015-20 was forecast at 13,364; the number of units permitted in 2016 was 12,521.

•The number of single-family homes needed for ownership per year was forecast at 8,788; that number was surpassed by 6.1 percent, with 9,324 single-family homes permitted last year.

•The number of multifamily units (apartments) needed for rent per year was forecast at 4,876; just 3,197 units were permitted last year.

Affordable housing

•Here, the disconnect between projected need for affordable housing and construction is stark. Affordable housing is defined as for rent for less than 60 percent of area median income.

•Statewide, the study determined that 2,326 new rental units would be needed annually; just 483 units, 20.1 percent, were funded last year using low income housing tax credits.

•Regionally (Oklahoma, Canadian, Cleveland, Grady, Lincoln, Logan, McClain and Pottawatomie counties), 1,318 units were needed annually; just 98, or 7.4 percent, were funded.

•In Oklahoma County, 898 units were needed and tax credits funded zero.

"We're constantly behind," Puckett said. "We're never going to catch up to these numbers."

Related Photos
<p>Willis Washington of A-Daptive Solutions & Consulting, left, speaks with TMI Construction's Gabriel Matthews during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN]</p>

Willis Washington of A-Daptive Solutions & Consulting, left, speaks with TMI Construction's Gabriel Matthews during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN]

<figure><img src="//cdn2.newsok.biz/cache/r960-3ccd1802bc57f109fc7829ca828aaf11.jpg" alt="Photo - Willis Washington of A-Daptive Solutions & Consulting, left, speaks with TMI Construction's Gabriel Matthews during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] " title=" Willis Washington of A-Daptive Solutions & Consulting, left, speaks with TMI Construction's Gabriel Matthews during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] "><figcaption> Willis Washington of A-Daptive Solutions & Consulting, left, speaks with TMI Construction's Gabriel Matthews during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] </figcaption></figure><figure><img src="//cdn2.newsok.biz/cache/r960-d9f424e86bcf8c47bf9744852de3c951.jpg" alt="Photo - Lauri Johnson of JLL Valuations & Advisory Services talks to an attendee of the Commercial Real Estate Summit at a booth in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] " title=" Lauri Johnson of JLL Valuations & Advisory Services talks to an attendee of the Commercial Real Estate Summit at a booth in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] "><figcaption> Lauri Johnson of JLL Valuations & Advisory Services talks to an attendee of the Commercial Real Estate Summit at a booth in the Nigh University Center at the University of Central Oklahoma Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] </figcaption></figure><figure><img src="//cdn2.newsok.biz/cache/r960-a6ea61023ed6d8255581c02d3adc3402.jpg" alt="Photo - Jack Werner of A to Z Inspections talks with with Theresa Nicoletto of JBT Property Solutions during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma on Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] " title=" Jack Werner of A to Z Inspections talks with with Theresa Nicoletto of JBT Property Solutions during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma on Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] "><figcaption> Jack Werner of A to Z Inspections talks with with Theresa Nicoletto of JBT Property Solutions during the Commercial Real Estate Summit in the Nigh University Center at the University of Central Oklahoma on Thursday. [PHOTO BY CHRIS LANDSBERGER, THE OKLAHOMAN] </figcaption></figure><figure><img src="//cdn2.newsok.biz/cache/r960-bf2f1ec70f249e608d7f05a5b4dacacc.jpg" alt="Photo - David Puckett  " title=" David Puckett  "><figcaption> David Puckett  </figcaption></figure>
Richard Mize

Real estate editor Richard Mize has edited The Oklahoman's weekly residential real estate section and covered housing, commercial real estate, construction, development, finance and related business since 1999. From 1989 to 1999, he worked... Read more ›

Comments