OKC MAPS PROJECTS – 25 YEARS
Housing Characteristics by Census Tract . Figure 19 provides a detailed overview of the current characteristics of housing units for each Census tract in the downtown study area in 2017. By ownership status, the share of owner-occupied units exceeds 50% in only three tracts - 1017 (Heritage Hills, 69.2%) to the north along with 1030 (south OU Health Center, 54.5%) and 1040 (south of I-40 to Oklahoma River, 57.7%) to the south. The rental share exceeds 50% in all other tracts that are not considered high-vacancy areas. Vacancy rates are highest and exceed 30% in tracts 1016 (far north, 33.4%), 1030 (South OU Health Center, 30.2%), 1036.02 (Police Department and Courts, 40.9%), and 1037 (Union Station, 78.0%). Despite the rebound in the study area housing market, median monthly rents are still relatively low from a regional and national perspective, reaching $947 in 2017. Median rents exceeded $1,000 in six tracts – 1017 (Heritage Hills, $1,074), 1027 (North OU Health Center, $1,052), 1030 (South OU Health Center, $2,000), 1032 (National Memorial and County Jail, $1,129), 1036.01 (Myriad Gardens and Civic Center, $1,161), and 1038 (Bricktown and Deep Deuce, $1,260). Tracts with more new housing development in recent years tend to have the highest monthly median rents. Tracts with monthly rents that remain far below the study area average include 1025 (St. Anthony Hospital, $691) and 1026 (Department of Commerce, $575). Reliable median rent estimates are not reported by Census for three tracts – 1091 (Automobile Alley to Cox Center), 1036.02 (Police Department and Courts), and 1037 (Union Station). Little owner-occupied housing is available in these three tracts and vacancy rates are highly elevated, suggesting lower-quality rental properties and those targeted for future redevelopment. For owner-occupied homes, median values are highest in tracts 1017 (Heritage Hills, $427,600) and 1018 (Mesta Park, $296,200) to the north and tract 1038 (Bricktown and Deep Deuce, $423,800) to the southeast. Median owner-occupied home values remain the lowest in tracts 1030 (South OU Health Center, $104,800), 1032 (National Memorial and County Jail, $119,500), and 1016 (far north, $143,100).
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