The Town of Velma had a population of 615 as of July 1, 2019. Velma ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Oklahoma. See peer rankings below.
The primary coordinate point for Velma is located at latitude 34.4601 and longitude -97.6739 in Stephens County. The formal boundaries for the Town of Velma encompass a land area of 1.4 sq. miles and a water area of 0.01 sq. miles. Stephens County is in the Central time zone (GMT -6). The elevation is 1,043 feet.
The Town of Velma (GNIS ID: 2413425) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.
Oklahoma is one of 20 states where Census County Divisions (CCDs) are used for statistical tracking of subdivisions within each county. The Town of Velma is located within Velma-Alma Division of Stephens County.
HOUSING AFFORDABILITY INDEX
|Velma, OK Housing Affordability Index is 350 |
State of Oklahoma Housing Affordability Index is 166
|The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.|
|Velma, OK Wealth Index is 75 |
State of Oklahoma Wealth Index is 74
|The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.|
These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.
More Tools and Resources:
|Total Population||615 (100%)|
|Population in Households||615 (100.0%)|
|Population in Families||525 (85.4%)|
|Population in Group Quarters1||0|
|Median Household Income||$57,213|
|Average Household Income||$71,035|
|Per Capita Income||$28,533|
|Total Housing Units||313 (100%)|
|Owner Occupied HU||178 (56.9%)|
|Renter Occupied HU||68 (21.7%)|
|Vacant Housing Units||67 (21.4%)|
|Median Home Value||$88,889|
|Housing Affordability Index3||350|
|Average Household Size||2.5|
|Average Family Size||3|
GROWTH RATE / YEAR
|Median Household Income||0.62%|
|Per Capita Income||1.24%|
The table below compares Velma to the other 743 incorporated cities, towns and CDPs in Oklahoma by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.
|Total Population||# 322||57th|
|Population Density||# 398||47th|
|Diversity Index||# 678||9th|
|Median Household Income||# 103||86th|
|Per Capita Income||# 123||84th|
Additional comparisons and rankings can be made with a VERY EASY TO USE Oklahoma Census Data Comparison Tool.