Thursday, May 26, 2011

Updated: 2000-2010 Oregon Home Ownership Rates Drop; Growth in Number of Renter HH's Exceeded Growth in Number of Homeowner HH's.

Apologies....I inadvertently left Corvallis off the list of HUD Entitlement Communities at bottom of table. That data has now been added, link to table remains the same.
A story last week in the Columbian HERE reporting a drop in the Clark County home ownership rate was a hint of things to come.

Data out today from Census Bureau for Oregon shows that
  • Oregon's home ownership rate declined from 64.3% in 2000 to 62.2% in 2010, a 3.2% decline.
  • Bend saw an 8% decrease in home ownership rates and Medford a 9.4% decrease in home ownership rates from 2000-2010. (Deschutes county also had a 9% decrease).
  • The home ownership rate in Multnomah County declined from 56.9% to 54.6%, a 4% decline.
  • The City of Portland home ownership rate declined from 55.8% to 53.7%, a 3.7% decline.
  • In 26 of 36 Oregon counties the increase in the number of renter HH's was HIGHER than the numerical increase in home owner HH's; this was also true at the statewide level.
  • Annually the statewide increase in home owners HH's averaged out to about 8,700 a year, while the annual increase in the number of rental households was about 9,700.
  • At the HUD entitlement community level only 2 of the 9 communities had a greater numerical increase in homeowner HH's vs renter HH's (Beaverton and Hillsboro) and as a result those were the only two Oregon HUD entitlements that saw an increase in home ownership rates. (4% and 4.1%).
  • While Bend had the largest HUD entitlement community decline in home ownership rates its 2010 home ownership rate (57.9%) was still the highest of any HUD entitlement community in Oregon. On the other hand Beaverton had a 4% increase in home ownership rates, but still had the lowest 2010 home ownership rate (49.7%) among Oregon HUD entitlement communities. 
    I assembled this 2000 and 2010 housing tenure data for all Oregon counties and HUD entitlement communities in the 4 page legal formatted PDF table HERE. I encourage you to get to the Census website and confirm my data; if you discover any discrepancies please do let me know.

    Until more detailed data by race and ethnicity is available late summer we will not know if the decline in home ownership rates was uniform, or more likely, that the decline was greater for minority groups than whites.

    Originally created and posted on the Oregon Housing Blog.

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