Sunday, March 22, 2015

Map [and Excel file] of Oregon HUD/FHA Multifamily Insured Loans: 2010-2014. $1.2 Billion, 14,500+ Units; Health Care Loans Were 33% of Total.

Using Portland based Batchgeo.com, I created a Google map HERE below and embedded below showing all 127 Oregon HUD/FHA insured MF projects that were insured from 2010 to 2014; if you would like to download a link to the Google Earth KML file with this information you can do so HERE

Health Care Related Loans, 1/3rd of Oregon Total
HERE is a link to the Excel file with more project level details, including lender, length of loan, interest rate, etc. That file opens to a pivot table showing unit and mortgage totals by Oregon city.  

This Excel file also has a worksheet and pivot table with only health care related loans (assisted living, nursing homes, and hospitals). Those health care related loans [including refinances] represented 1/3rd of HUD/FHA Oregon multifamily units /$$ insured by HUD/FHA during this 5 year period.

HUD's national database of active FHA MF loans is available HERE



View OR FHA MF Insured Prop 2010+ in a full screen map


Originally created and posted on the Oregon Housing Blog.

Thursday, March 12, 2015

All Oregon Counties: Comparison of 3 Person VLI Income Limits and HUD 2 BR FMR's for Select Years 1991 to 2015.

My prior post HERE had a similar comparison for the Portland Metro Area. 

I have expanded and refined that analysis in Excel to permit users to compare up to 7 Oregon counties side by side in differing years and over differing time periods . (You may need to scroll right to see all 7 counties). That Excel worksheet is HERE and embedded below.

Some observations

  1. NOTE that as in prior post the share of income for rent and affordability are all calculated at the TOP END of the 50% MFI 3 person income LIMIT; the vast majority of low income families are BELOW the TOP END of that income limit and will therefore experience bigger problems with affordability than this data indicates
  2. In 2015 vs 1991, the share of 3 person household income limit for very low income families required to afford the 2 BR HUD FMR is lower for ALL Oregon counties EXCEPT for the Portland metro area.  [See rows 1 and 5 in Excel worksheet].
  3. Most of those reductions in the share of income required for rent were achieved prior to 2005; since 2005 rents have increased MUCH faster than incomes, eroding the gains in affordability made prior to 2005. [See rows 19 -21 in the Excel worksheet to compare recent income and rent increase percentages].
  4. Benton and Gilliam counties are the only counties in 2015 where the share of the 3 person very low income limit required to afford the 2 BR HUD FMR is BELOW 30% [See row 5 in Excel worksheet].
  5. If you scroll down past the table you will see a graph that shows affordability for the selected counties for the years 1991,2000, 2005, 2014, and 2015.
  6. I have hidden rows with data used in the visible table, but have not password protected the workbook. If you want to see additional data simply unhide all rows. 


Originally created and posted on the Oregon Housing Blog.

Sunday, March 8, 2015

Portland Metro 25 Year Comparison of HUD FMR Increases to HUD Low Income Increases--Some Surprises.

I prepared HERE, and embedded below, a PDF comparison between the affordable rent for a 3 person household at 50% of Median Family Income LIMIT to HUD's published 2 BR Fair Market rents for the Portland Metro area for the 25 years from FY 1991-FY 2015. 

I also show the share of income that these households would have spent if they rented a unit at the HUD 2 BR FMR.

Some observations: 
  1. NOTE that in this post the share of income for rent and affordability are all calculated at the TOP END of the 50% MFI 3 person income LIMIT; the vast majority of low income families are BELOW the TOP END of that income limit and will therefore experience bigger problems with affordability than this data indicates. 
  2. In FY 2015 the HUD published 2 BR FMR for Portland ($944) is $117 above the rent that would be affordable to a 3 person family at the HUD published 50% MFI limit. ($828).
  3. As a percentage the 14.1% FY 2015 gap between the HUD 2 BR FMR and the rent affordable to a 50% MFI 3 person household at the income limit in FY 2015 is less than the 18% percentage gap in FY 2014.  This is because HUD published median family incomes went up significantly from FY 2014 to FY 2015. 
  4. As recently as FY 2008, the HUD 2 BR Portland metro FMR was $7 below the rent affordable to a 3 person household at the HUD published 50% MFI income limit.
  5. In 2015 the share of income that a 3 person 50% MFI family at the income limit would spend to rent a unit at the HUD 2 BR FMR would be 34.2%. This is only marginally higher than the 33.6% that family would have paid 25 years ago in 1991
  6. The only years in the last 25 where the share of income spent by this family type for the HUD 2 BR rent would have been LESS than 30% were 2005-2008.  
  7. Looking at the recent period from 2015 to 2005 HUD 2 BR FMR's increased MUCH faster than the HUD 50% 3 Person MFI income limit: 31.7% vs 8.3%.
  8. Looked at from the 2015 to 2000 period, the HUD 2 BR FMR increased LESS than the HUD's 50% 3 Person MFI income limit: 34.5% vs 37.1%.
  9. Looked at from 2015 to 1991 period, HUD 2 BR FMR's increased MORE than the HUD 50% 3 Person MFI income limit: 91.9% vs 88.6%. 


Originally created and posted on the Oregon  Housing Blog.

Friday, March 6, 2015

Oregon HUD Median Family Income Changes FY 2015 vs 2014: Range Is from +13.3% to -5.5%

I created a PDF table HERE, and embedded below showing changes.

The HUD FY 2015 income link is HERE.

My Oregon FY 2015-FY 2014 Median Family Income Change Observations:

  • Benton/Corvallis leads Oregon again at $78,600, a 13.3% increase.
  • The Portland metro increase was 6.5% to $73,900.
  • Jackson County/Medford had an increase of 10.7% to $55,900.
  • Curry County had a decrease of 5.5% to $53,600.
  • Oregon's overall increase was 3.1% to $62,600.


Originally created and posted on the Oregon Housing Blog.


Sunday, February 15, 2015

Home Forward Voucher Tenant Demographics by Area, January 2015.

The February Home Forward Board Packet provides a racial and ethnic breakout of voucher holders by area, including Portland neighborhoods AND Clackamas County and Lake Oswego and West Linn. 

I created an Excel spreadsheet HERE and embedded below that shows that detail.  

Some observations:

  1. Of the total of 8,464 HF voucher holders 2,276/28.1% were in Outer SE and 111/1.3% of HF voucher holders were in Clackamas County or West Linn/Lake Oswego.
  2. The total of 2,621 Black voucher households represented 31% of all Home Forward voucher holders. In North Portland and St. Johns 404 Black voucher holders represented 49.1% of HF voucher holders, but only 12/11.8% of 102 total HF voucher holders in Clackamas and 1/11.1% of 9 HF voucher holders in Lake Oswego and West Linn.
  3. The 579 total Hispanic voucher households represented 6.8% of all HF voucher holders. Of the 111 total HF voucher holders in Clackamas County and West Linn/Lake Oswego there were 8 Hispanic voucher holders, or 7.2% of HF voucher holders in those areas.
  4. Note that Clackamas County Housing authority controlled HUD vouchers are not included in Home Forward totals. HUD's Resident Characteristic Report show that 5% of Clackamas County Authority voucher holders are Black, and 7% are Hispanic.



Originally created and posted on the Oregon Housing Blog.