Tuesday, April 26, 2011

Harvard Joint Center Report on Rental Housing Out.

Report is HERE, comes a few days before NLIHC Out of Reach annual report scheduled for release next week. 

PDF page 54 is table of cost burdened renters 2000 and 2009 by Metro area. Portland % of cost burdened renters increased from 18.8% to 25.5%; %'s would be higher for lower income renters.  

Extremely Low Income Affordable and Available Supply Continues to Decline
My calculations from important national table at PDF page 53 shows that <30% Median Family Income households grew by 11% from 2003 to 2009, while the supply of affordable AND available housing decreased by 5.8%. 

The supply gap for these households is now nearly 6.8 million units. For every 100 renters in this income group, only 36 units were affordable AND available in 2009. This is a decline of 15% since 2003 when the Affordable and Available units per 100 extremely low income renters was 42.

Also from report:
Renters are ethnically and racially diverse, with minorities accounting for 89 percent of the more than 4.0 million growth in their numbers from 2000 to 2010. Hispanics contributed 42 percent, and blacks 25 percent, of this increase. Over the decade, the minority share of renters thus rose from 39 percent to 45 percent—more than twice the minority share of owners. In large measure, these minority gains reflect the fact that half of all immigrants rent their housing. Indeed, the foreign-born head one in five renter households. With the recession-induced slowdown in immigration and the bust in the homeownership market, however, whites accounted for nearly half of all renter household growth in 2005–10. While the common perception of rental housing is of large structures in urban areas, more than half of all rental units are in buildings with four or fewer units—including 34 percent that are single-family homes. Renters are in fact more likely to live in the center cities of metropolitan areas than homeowners, but more than half live in suburban and nonmetropolitan areas. Indeed, two out of every five renters live in suburban areas and about one in seven in non-metro areas.
Originally created and posted on the Oregon Housing Blog.

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