OHFA Issues Housing Affordability Study

Complete Study (PDF)

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.”

As Oklahoma’s largest provider of affordable housing, OHFA offers nine housing programs ranging from “OHFA Advantage” for homeownership to housing development and rental assistance. For more information about OHFA and its programs and services, visit www.ohfa.org.

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