What is Considered Affordable Housing for Downtown

[benman]

Obviously there is lots of talk about how there needs to be more affordable housing downtown. Im curious as to what the consensus is on what is considered "affordable."
Im assuming that affordable when looking to buy is 100k-150K??
What is affordable for a rental? 500/month? 1000/month?
Is deep deuce considered affordable at there $800+ per month. I think people would like to see some "urban/modern style" pop up around the edges of downtown.

[dankrutka]

I live in a studio in midtown for $500 a month, but it was by far the best deal I could find...

[Spartan]

I think the Deep Deuce lofts are pretty affordable. Anything under $1,000/mo is pretty good for downtown living, but it had better be at least 800 sf in my opinion..a grand a month for a studio is not far from what you'd pay in Manhattan. So if you can get at least 1 bedroom for that, maybe 2 small bedrooms, I'd say most people would consider that doable.

[adaniel]

I pay $900 for a 1/1 condo about 710 square feet. But this includes gated parking, as well as water, trash, sewer, and basic cable/internet (all provided by the HOA). The savings in my gasoline brought it in line to what I was paying at my old place.

[Larry OKC]

Obviously there is lots of talk about how there needs to be more affordable housing downtown. Im curious as to what the consensus is on what is considered "affordable."
Im assuming that affordable when looking to buy is 100k-150K??
What is affordable for a rental? 500/month? 1000/month?
Is deep deuce considered affordable at there $800+ per month. I think people would like to see some "urban/modern style" pop up around the edges of downtown.

All things being relative...your mileage may vary...

To me it is what I am paying now: $550/month (water/sewage/trash included) no association fees etc. My only added expense is electric ($120/month). This is for a 2 bed/2 bath 1,000 sf apt.

[kevinpate]

There are a variety of price points in/near downtown. As to what's affordable, depends in large part on one's employment status. The answer would vary considerably depending on whether one shoots bball for the Thunder, is a senior partner for a DT law firm, or spends a shift asking 'you want fries with that'?

[Larry OKC]

Also depends on where you work (I work up near Edmond), if I worked in the downtown vicinity, it might be a consideration....

[Kerry]

I would think a good place to start would be one standard deviation more than current rental rates for class A apartments in OKC. I won't go throught the math but here is a sample.

Current monthly rental rates for class A apartment in OKC:
$600
$700
$750
$500
$900
$800
$850

Using one standard deviation would make a downtown apratment about $860 month. Not the highest in the city but higher than average

[semisimple]

I would consider small apartments priced around the median rent in OKC to be "affordable." Median rent in the OKC MSA is about $660/mo, so this would be fair for a 1/1 near downtown.

Just for reference, the median rent here in the Austin MSA is about $910/mo and this is roughly the price point for small 1/1s and studios near downtown. Midrises in or adjacent to downtown start at $1300/mo for a (650 sf) 1/1 and highrises start at $2100/mo for a 1/1.

[Platemaker]

450 sq foot studio in Midtown... $585... best deal I could find.

[Rover]

Just some quick Googling:

Downtown Denver arround $1500 for a studio. $1750 for 1 bdrm. $2,000-2500 for 2 bdrm., so probably about $2 per foot
Wichita looks like about $1/ft/mo.
Tulsa about $1-$1.25/ft/mo.

[OSUMom]

How much do the Park Harvey apts run? I looked on thier website but didn't see prices mentioned.

[adaniel]

There are a variety of price points in/near downtown. As to what's affordable, depends in large part on one's employment status. The answer would vary considerably depending on whether one shoots bball for the Thunder, is a senior partner for a DT law firm, or spends a shift asking 'you want fries with that'?

Well you would have to consider that Downtown and the adjacent OUHSC probably have the highest concentration of high paying jobs in the state, so it would justify a somewhat higher price point than say, Mid-Del or Yukon.

Since I need a break from wrapping gifts, I looked up some rentals for lease on craiglist in and around the CBD (and I'm taking a pretty liberal definition of the central city as everything between 40 and NW 23rd) Here are some results:

http://oklahomacity.craigslist.org/apa/2126028976.html (This is next door to me)

http://oklahomacity.craigslist.org/apa/2115013429.html

http://oklahomacity.craigslist.org/apa/2120811918.html

http://oklahomacity.craigslist.org/apa/2113020616.html

http://oklahomacity.craigslist.org/apa/2074496094.html

http://oklahomacity.craigslist.org/apa/2125532455.html

[Thunder]

http://oklahomacity.craigslist.org/apa/2113020616.html

This one is the best with great rental price. I would totally move into that.