Oklahoma Housing Finance Agency Releases
Statewide Housing Affordability Study
OKLAHOMA
CITY — According to a Housing Affordability Study compiled by
the Oklahoma Housing Finance Agency, many working Oklahomans
have difficulty when it comes to making rent or mortgage
payments.
“Even though Oklahoma has some of the most
affordable housing in America, many wage earners cannot afford
to own a home or even rent one without paying an unreasonable
percentage of their income,” said Dennis Shockley, OHFA
executive director. “Two wage-earners in the family are often
required.”
According to the study, a reasonable percentage
would be 30 percent or less of a person’s salary going towards
housing related expenses.
A buy/rent analysis of 72 of Oklahoma’s 77
counties was compiled by using the U.S. Department of Housing
and Urban Development’s fair market rents, home price data from
the Oklahoma Association of REALTORS® and the Greater Tulsa
Association of REALTORS®, and wage data from the Oklahoma
Employment Security Commission. There was insufficient data for
the counties of Beaver, Cimarron, Ellis, Harper, and Texas to
conduct a full buy/rent analysis.
Most affected by the disparity are those working
in food service and preparation; building and grounds cleaning
and maintenance; and personal care and service occupations. A
person working in a child care center or waiting tables in a
restaurant, for example, may have difficulty affording rent or
paying a mortgage in any of the counties analyzed.
Those working in office and administrative
support or production occupations such as bookkeepers and
butchers can often afford to pay rent but not a mortgage.
“This really sheds light on the need for
affordable places to live for working Oklahomans all across the
state,” said Shockley. “Hopefully, this study will lead to
discussion regarding ways that this need can be met.”
The study can be downloaded in PDF format from
OHFA’s website,
www.ohfa.org/affordabilitystudy.htm.
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