The survey asked: How many occupied households could not pay full rent by the 15th day of the month? The survey adjusted for vacancy to arrive at the true percentage of occupied households impacted.
- On average, 13.0% of Oregon households did not pay their rent by the 15th of the month, representing an overall decline from 11.7% in January.
- Statewide, of renter households living in Affordable Tax Credit units, 15.4% were unable to pay rent, compared to the average of 9.2% in January. (Note that the January results were favorably impacted by several rental assistance options that were targeted toward affordable housing in the 4th quarter of 2020) Overall, vacancy within the 14,880 affordable units reporting was only 2.7%, demonstrating the exceptional demand for this type of unit.
- Conventional “Class-C” workforce multifamily housing experienced a 16.1% inability to pay rent and showed virtually no improvement from 16.2 last month and the 16.8% average from 2020. There is cause for concern that rental assistance dollars are not reaching tenants in this asset class.
- Responses from owners with nine or fewer units provided data on 403 units across Oregon. They showed 25.5% inability to pay, along with 12.4% vacancy. Last month, 483 units responded with 18.1% inability to pay and 7.2% vacancy. We cannot explain the high variability in this asset class other than a change in sample size. This is also the asset class best positioned to receive funding through the Landlord Compensation Fund.
- Class A market-rate apartments now reflect a 10.5% vacancy rate on top of a 10.7% inability to pay. Inability to pay in this asset type averaged just 6.8% across Oregon in 2020.
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