Oklahoma's Housing Industry
Opportunities for fit, affordable housing and diverse, thriving communities in Oklahoma
Oklahoma has some of the most affordable housing in the country. Nevertheless, Oklahoma lacks enough affordable housing to meet the demand of the low-income population. Although this shortage may never completely subside, we can take action to decrease it. Developers, builders, trades people, lenders, and real estate agents all profit from the increased real estate development that produces affordable housing. However, it’s the families and communities of Oklahoma that benefit the most from affordable housing. Putting people in homes is a good place to start making a difference in the lives of people by fulfilling their housing needs and dreams. Whether it be affordable housing programs ranging from a homeless program and rental assistance to housing development and home ownership- Oklahoma is on track to spend hundreds of millions of dollars to address the affordable housing needs of many Oklahomans. Many families face difficult financial times each year, and the Government is going to help by providing affordable housing to working Oklahomans, help families with their housing needs by enabling them to buy homes through special financing opportunities, rent homes in safer neighborhoods, and rehabilitate existing homes.
Government grants & stimulus money
Funds from the federal American Recovery and Reinvestment Act will stimulate many housing developments throughout Oklahoma in the coming years. Renovations and developments throughout the state should create more affordable housing for Oklahoma families. Funds will be used for construction of new multifamily housing units and for rehabilitation of some existing units.
Private-public partnerships and public improvement projects, programs and policies are taking place in Tulsa and Oklahoma City Downtown areas. Emerging private and public development and redevelopment in the Central Business District areas, near downtown neighborhoods are maximizing existing initiatives. Downtown's are also addressing the amenities to increase convenience and quality of life to residences, entertainment, conventions and visitors. Read more
- Oklahoma Rural Development
- FHLBank Community Programs
- Oklahoma Recovery & Reinvestment
- Housing Assistance Council
- Enterprise Community Partners
- Greater Oklahoma City Housing
- Urban Land Institute Oklahoma City
- American Indian Housing Council
- Homebuyer Education Association
- Oklahoma USDA Rural Development
- Oklahoma Habitat for Humanity
- Oklahoma Department of Commerce
- Housing and Urban Development
- Oklahoma City Housing Authority
- Tulsa Oklahoma Housing Authority
- Oklahoma Housing Finance Agency
Promoting economic development and providing quality community services for Oklahoma
Oklahoma residents and community leaders are concerned with identifying options for diversifying their economy and establishing a long-term vision for their community. The goals of the Rural Development program are to support economic development and to provide quality community services at affordable costs. Cooperative Extension offers educational and technical assistance to aid rural leaders in promoting economic development and providing quality community services.
The programs include community and economic development, community services and infrastructure, and local government education. In conjunction with other programs, Rural Development provides communities with training and resources to help them realize and maintain a balance among the environment, economy, and social equity. The economic conditions and trends report provides detailed background data about the resources in a particular area.
“Aiding leaders in promoting economic development and providing quality community services in Oklahoma...”
“Supporting economic development and to provide quality community services at affordable costs...”
Making a difference by helping Oklahoma build their communities
In 1932, Congress established a system of 12 home loan banks to relieve financial strains on thrift institutions and to promote homeownership. FHLBank Topeka, a privately owned, federally chartered corporation, promotes housing and homeownership by providing wholesale products and services that help member financial institutions expand the availability of mortgage credit, compete more effectively in their markets and foster strong and vibrant communities.
FHLB Topeka serves the economic and housing needs of Oklahoma communities by providing local banks with flexible options for community development initiatives. These funds and grants have help construct more affordable housing units and have contributed to job growth throughout the region.
Making a Difference
“Contributing to community non-profits in the form of grants that help build affordable housing...”
“The Affordable Housing Program is the largest privately funded housing grant program in the US...”
Expanding online government operational procedures at the state level
In February of 2009, President Obama and the U.S. Congress approved the American Recovery and Reinvestment Act to help kick-start the nation's economy. The landmark measure includes targeted tax relief and significant investments in such vital areas as education, transportation, healthcare, science and technology and energy-efficiency.
Oklahoma Recovery & Reinvestment website was provided for the citizens of Oklahoma to access information about the federal stimulus initiative. The Government went to a great deal of effort to help track the use of stimulus funds. Some of those include Housing & Assistance, Energy & Environment, Transportation, Business & Employment, Transportation, Budget Stabilization, Public Safety and Local Government.
“Home Investment Partnership, Neighborhood Stabilization, Community Development Block Grant...”
“Providing additional home funds for state housing credit agencies to provide gap financing grants...”
Affordable housing special focus on high-need groups and regions in Oklahoma
Housing Assistance Council (HAC) is a nonprofit corporation that has been helping local organizations build affordable homes in rural America since 1971. HAC emphasizes local solutions, empowerment of the poor, reduced dependence, and self-help strategies. HAC assists in the development of both single- and multi-family homes and promotes homeownership for working low-income rural families through a self-help, "sweat equity" construction method.
The Housing Assistance Council offers services to public, nonprofit, and private organizations throughout the rural United States. HAC also maintains a special focus on high-need groups and regions: Indian country, the Mississippi Delta, farmworkers, the Southwest border colonias, and Appalachia.
Helping Rural America
“Improving housing conditions for the rural poor, with an emphasis on the poorest of the poor...”
“The self-help process enables low-income participants to build their own homes...”
Financing and solutions for housing and communities, because a good life is affordable
Enterprise is a provider of capital and expertise for affordable housing and community development tackling the challenges that other organizations will not attempt. Enterprise works with partners – developers, investors, government, community-based nonprofits and others – to make sure every American lives in a decent, affordable home. A sustainable housing future for America should be thriving and a better place for the lives of low-income people.
Enterprise’s fundamental commitment to give people living in poverty an opportunity to move up and out. Belief that these opportunities are best provided in communities with a diverse mix of affordable and market housing options, access to jobs and social supports, and a strong commitment to the environment and civic participation.
“Opportunity for low- and moderate-income people through fit, affordable housing and diverse...”
“Changing the lives of hundreds of thousands of low-income people across the country for affordable...”
Variety of housing options available at one of the nation's most affordable rates
Oklahoma City offers affordable living and remains one of the most affordable major metropolitan areas in which to live. Oklahoma City was recently named the number 1 most affordable housing market of the nation's 50 largest metropolitan areas. The variety of housing options available and the simple life of a smaller community within a short commute, Greater Oklahoma City offers a wide choice of desirable neighborhoods.
One key aspect that makes Oklahoma City such a uniquely livable region is its affordability. Unlike many metropolitan areas today, you can afford to live in a quality home, while still enjoying the area's arts and entertainment, as well as traveling and engaging in other recreational interests.
Quality of Life
“Nowhere does your budget see the advantages of Oklahoma City more than in the housing column...”
“Greater Oklahoma City offers a wide choice of desirable neighborhoods with affordable homes...”
Providing leadership in the responsible use of land challenges in Oklahoma City
ULI Oklahoma exists to provide leadership in the responsible use of land and in creating and sustaining thriving communities in Oklahoma. There are hundreds of local Oklahoma members representing the entire spectrum of land use and real estate development disciplines. They are developers, builders, property owners, investors, architects, public officials, planners, real estate brokers, attorneys, engineers, financiers, academics and students.
As a trusted convener for sharing knowledge and as an unbiased source for timely land use information, ULI Oklahoma City is a critical link in improving state and local land use policy and development practices. ULI, the Urban Land Institute, is a 501(c)(3) nonprofit research and education organization supported by its members.
Oklahoma Land Use Issues
“Providing leadership in the responsible use of land and in creating and sustaining thriving communities...”
“Collaborating with industry and stakeholder groups to examine complex land use issues an find solutions...”
Advocacy for housing opportunities and community development programs
The National American Indian Housing Council (NAIHC) was founded in 1974 as a 501(c)(3) corporation. NAIHC is the only national organization representing housing interests of Native people who reside in Indian communities, Alaska Native Villages, and on native Hawaiian Home Lands.
The NAIHC is composed of 271 members representing 463 tribes and housing organizations. NAIHC is guided by a 10-member Board of Directors representing Native housing entities in nine geographical regions throughout the United States. NAIHC promotes and supports Native housing entities in their efforts to provide culturally relevant and quality affordable housing on behalf of Native people.
Native American Housing
“NAIHC is determined to provide culturally relevant and quality affordable housing for native people...”
“Offering both formal training classes and specialized training by experienced instructors on a regional...”
Strengthening the economic well-being of our citizens and our local communities
Oklahoma Homebuyer Education Association (OHEA) is a statewide partnership of nonprofit and business groups promoting basic family values like security, self-sufficiency, and community by enabling a diversity of Oklahomans to pursue affordable homeownership. Through quality education and counseling, more people will qualify for homeownership, experience a pleasant purchasing process, and succeed at owning and maintaining their homes.
OHEA provides a standardized homebuyer education curriculum that is specific to the laws and business practices within the state, training, certifying and monitoring homebuyer education professionals. OHEA's views are not limited to Oklahoma, assisting each state to the extent possible and learning from every state who shares the affordable homeownership vision.
Education and Counseling
“OHEA's belief is that each state should assist each state to the extent possible and learn from every state...”
“Assisting the delivery of homeownership education and counseling through cooperative marketing...”
Committed to helping improve the economy and quality of life in rural Oklahoma
USDA Rural Development is committed to helping improve the economy and quality of life in rural America. Through many programs, USDA helps rural Oklahoma in many ways. Financial programs support for essential public facilities and services as water and sewer systems, housing, health clinics, emergency service facilities and electric and telephone service are a few. USDA promotes economic development by supporting loans to businesses through banks, credit unions and community-managed lending pools.
Single family and multi-family housing programs provide homeownership opportunities to low- and moderate-income rural Americans through several loan, grant, and loan guarantee programs in Oklahoma.
Committed To Help
“Through the USDA Rural Development financial programs, we touch rural America in many ways...”
“Helping rural individuals, communities and businesses obtain the financial and technical...”
Working with families, sponsors and communities to build affordable, green, quality homes
Founded in 1976 by Millard and Linda Fuller, Habitat for Humanity International is a nonprofit, ecumenical Christian housing ministry dedicated to eliminating substandard housing and homelessness worldwide and to making adequate, affordable shelter a matter of conscience and action. Habitat has built and renovated over 200,000 houses worldwide since 1976.
Habitat for Humanity is a worldwide, grassroots movement. There are more than 2,100 active affiliates in 100 countries, including all 50 states of the United States, the District of Columbia, Guam and Puerto Rico. HFHI headquarters, located in Americus, Ga., provides information, training, support and other services to Habitat affiliates worldwide.
“Through home sponsors, donations, and volunteer time, building affordable homes in Oklahoma...”
“Applying for a Habitat for Humanity home is similar to applying for a conventional home mortgage loan...”
Supporting affordable housing throughout Oklahoma
State and local economic development organizations use bond financing as a means for funding projects. Broadly defined, a bond is a certificate of debt issued by a government or corporation to raise money with a promise to pay a specified sum of money at a fixed time in the future and carrying interest at a fixed rate. Because some bonds are tax-exempt and others are subject to limited taxes, loans made through the sale of bonds can provide substantial savings to businesses taking advantage of these programs.
Interest rates are typically lower than those available for other types of financial instruments. Bond programs also broaden the sources of capital in Oklahoma and can be effective tools for local economic development efforts in rural areas.
State Bond Programs
“Bond programs can be a great way to get long term lower-cost financing for affordable homes...”
“The Oklahoma Department of Commerce is the primary economic development entity in the state...”
Oklahoma Department of Housing and Urban Development - HUD
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business.
HUD awards grants to organizations and groups for a variety of purposes. Working with local nonprofit organizations to invest in their communities through property rehabilitation and resell to first time home buyers and low to moderate income families. HUD programs have helped millions of people from being homeless by supporting local communities initiatives
“Tackling the economic, financial, and community development issues of the current environment...”
“Implementation of transparency, participation, and collaboration that form the cornerstone...”
Housing and rental assistance to low-income people and their families
The Oklahoma City Housing Authority (OCHA) is located near the intersection of two major interstate highways, I-35 and I-40, in the capital city of Oklahoma. Established in September, 1965, the OCHA currently owns Public Housing consisting of 3,140 units. In addition, the OCHA administers approximately 3,860 units of Section 8 Housing in the Oklahoma City area. This enables provision of affordable housing and rental assistance to low-income people and their families with the availability of 7,000 dwelling units.
In addition to housing programs, OCHA offers or contract many assistance and training programs to help our residents in becoming self-reliant homeowners. OCHA is dedicated to one purpose, providing clean, safe and decent affordable housing for low-income families and senior citizens of Oklahoma City.
It's All About People
Dedicated to Housing
“Clean, safe and decent housing for low-income families and senior citizens of Oklahoma City...”
“Assisting families improve their economic situation and reduce their dependence on public assistance...”
Provision of safe, decent and affordable housing enhances the quality of life in Tulsa
When Tulsa Housing Authority (THA) opened its first public housing community in 1967, there was a waiting list of 2,200 applications for the 150 available units. By 1979, THA had constructed or purchased 2,434 units of public housing. Today, THA communities provide housing to over 5,000 individuals, of which almost 3,000 are children and more than 1,100 are elderly or disabled individuals. In the Assisted Housing program, over 10,000 of Tulsa’s disadvantaged are served.
Housing options for low-income families, the creation and development of THA's Community Relations program, a Homeownership program, on-site childcare centers, on-site health care centers, and the development of a nationally recognized HOPE VI Country Club Gardens community are just some of the accomplishments that THA has realized.
“An advocate for improving the lives of residents through a partnership of the community at large...”
“Providing qualified residents with desirable housing in pleasant living environments...”
Provision of safe, decent and affordable housing enhances the quality of life in Oklahoma
The Oklahoma Housing Finance Agency is a Public Trust that was created by Executive Order by the Governor in 1975. The Agency is a non-profit entity and tax exempt, with the State of Oklahoma as the beneficiary of the Trust. The Trust was established to better the housing stock and the housing conditions in the State of Oklahoma.
OHFA has since grown to a multi-million-dollar agency with over 100 employees administering nine housing programs. From the manual days of processing paperwork to automated computer days, OHFA has grown from helping 3,500 families annually to helping over 25,000 in recent years. Oklahoma’s largest provider of affordable housing, OHFA offers nine housing programs ranging from “OHFA Advantage” for home ownership to housing development and rental assistance.
Making a Difference
“Oklahoma Housing Finance Agency is there to help by providing affordable housing to Oklahomans...”
“Helping families with their housing needs by enabling them to buy homes through special financing...”