City reviews housing study findings

The Broken Arrow City Council and the Planning Commission met on March 26 to hear findings from the "Housing Needs Assessment and Forecast for Broken Arrow 2023-2040"in a joint presentation.

Brian Points, president of Points Consulting, led the discussion during the public meeting, which included city staff and residents, as he presented a summary of the fact-finding report.

The housing study, conducted over eight months, is a prognosticating tool that examines the future of housing in Broken Arrow.

"The housing and demographics study began in May 2023 and included a resident survey that was open from Sept. 25 to Nov. 1, 2023," said Farhad Daroga, Special Projects Manager of Community Development.

Daroga worked with Points Consulting and a 13-person steering committee during the draft and review stages of the study.

During his presentation, Points summarized some key takeaways from the report.

To see a video of the presentation, watch here.

Broken Arrow's population has surged eight percent since 2020, surpassing 117,500 residents in 2023.

• Median home values in 2023 reached $265,000 but remain lower than the national average ($349,000).
• Around 72 percent of low-income renters and 15 percent of owner-occupied households are cost-burdened, and 22 percent of prospective homebuyers struggle to afford average-priced homes.
• Also, rental unit prices have climbed 20 percent due to limited new construction, a robust job market, high amenity multi-family units, and few low-income units.

Broken Arrow's predominant type of housing is single-family; however, "People aren't fully opposed to non-single-family types," Pointer said. "It just needs to be in a suitable place."

And, with the city's growth in commercial, food service, and retail, Pointer says more and more areas are trending in a denser direction.

"Intentional planning, like the Rose District, has paid dividends in the past, and it can again in places like New Orleans Square, and the forthcoming Innovation District," Points said.

Significant in-migration is taking place from other Oklahoma cities, as well as Texas and California, which is driving growth. The projected population growth of 40,000 over the next 20 years is equal to 1.4 percent per year.

Wagoner County is expected to account for 29 percent of the city's population in 2040, compared to the current level of 18 percent.

Broken Arrow's income and wealth are above average, but not to a great degree. Household incomes averaged $78,000, compared to $73,000 for the national average. Household net worth exceeds the national average by $37,000.

There were 42,298 total housing units in 2023, and that number is expected to grow to 49,045 by 2040.

The Housing Needs Assessment and Forecast for Broken Arrow 2023-2040 presentation was for information purposes only, and neither the City Council nor the Planning Commission voted on the study's findings.

A final report will be approximately 200 pages and must be approved by both the Planning Commission and the City Council. Upon the City Council's acceptance of the report which is expected early this summer, a final draft will be published.

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