The latest news of interest to multifamily housing investors in Oregon and Washington.
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Friday, December 9, 2016
New Census Data: 49.5% of Portland Metro Area Renters Are Cost-Burdened
According to new data from the Census Bureau, 37.3% of Portland Metro Area renters spend more than 30% of their income on housing. While that figure is down 2.6% from 2010, the data also shows that cost-burdened renters are being pushed into outlying areas, where there are fewer services for struggling families. Furthermore, 49.5% of renters are cost-burdened, compared with 29.2% of owners. The Portland City Council is likely to take this information into account when they meet to discuss Inclusionary Zoning next week (the original hearing scheduled for December 8th was postponed due to snow). Read more.