Where: Omak, Okanogan County, WA
Problem: Rural communities lack access to affordable housing
Solution: RCAC’s Loan Fund provides gap financing for a 45-unit affordable housing complex
Omak is a city in north-central Washington. Omak historically was an agricultural community that relied on the forest industry. According to the 2018 American Community Survey (ACS) 5-Year Estimate, Omak’s median household income (MHI) is $44,943 while Okanogan County’s MHI is $45,808. Washington’s non-metro MHI is higher than both Omak and the county at $60,049 per the 2010 US Census. Omak is home to 4,794 residents per the 2018 5-year ACS.
There is an extreme lack of affordable housing in the region, which was exacerbated by wildfires that destroyed hundreds of homes in 2014 and 2015.
The Housing Authority of Okanogan County’s proposed Meadow Point Family Housing development, in rural Omak, provides 45 new low-income units to serve up to 178 residents at or below 50 percent of area median income and will be targeted toward senior citizens and veterans experiencing homelessness.
RCAC provided a $350,000 construction loan that will serve as gap financing for the project, which broke ground in November 2020 and is expected to be complete in 2021.