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While most rentals conform to health and building codes, many of Oklahoma’s most vulnerable renters risk eviction if they report to city officials.
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The main Section 8 program involves the voucher program. A voucher may be either "project-based"—where its use is limited to a specific apartment complex (public housing agencies (PHAs) may reserve up to 20% of its vouchers as such [11])—or "tenant-based", where the tenant is free to choose a unit in the private sector, is not limited to specific complexes, and may reside anywhere in the ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
Price Edwards & Co., which tracks complexes in Oklahoma City with 50 or more units, the kind that would be impacted by Biden's rent cap, reports that rents jumped 12% in 2021 and 6% in 2022.
More "horizontal apartments" — entire high-density neighborhoods of single-family homes built as rentals — are popping up, and over, in and around Oklahoma City. "Horizontal apartments" are ...
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