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Texoma Economic Development District | Comprehensive Economic Development Strategy 2017-2022

Texoma Economic Development District | Comprehensive Economic Development Strategy 2017-2022

Economic Health Indicators

Housing

The total number of housing units in Texoma is 73,159 (Figure 1). As noted, there was a small increase in the number total housing units from 2010 to 2014, but a small decline in the number of owner-occupied units was made up for by an increase in renter-occupied units. This decline in owner-occupied units is disturbing, and must be reversed in order to provide housing for an increased labor force.

Figure 1: Number of Housing Units, Total Texoma Region

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Source: U.S. Census Bureau, 2015 ACS Selected Housing Characteristics


Housing cost burden is an important indicator of the stability of housing in a region. Figures 2, 3, 4, and 5 show the housing burden for both owners and renters. As shown, all counties show a relatively high proportion of owners having a cost burden of 30% or less of their total income. The cost burden is higher for renters, with more of the population of each county having a cost burden greater than 30%. This is important in light of the data above showing a relative increase in the number of renter-occupied housing units.

Figure 2: Housing Cost Burden, Owners, by County

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Source: U.S. Census Bureau, 2015 ACS Selected Housing Characteristics


Figure 3: Regional Housing Cost Burden for Owners

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Source: U.S. Census Bureau, 2015 ACS Selected Housing Characteristics


Figure 4: Housing Cost Burden for Renters, by County

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Source: U.S. Census Bureau, 2015 ACS Selected Housing Characteristics


Figure 5: Regional Housing Cost Burden for Renters

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Source: U.S. Census Bureau, 2015 ACS Selected Housing Characteristics