Thursday, November 10, 2011

HUD HOME Budget Cuts Would Hurt Renters the Most; 91% of HOME $$ in Oregon Have Focused on Renters.

With action expected on the HUD FY 2012 appropriations bill next week, the National Housing Conference has put together a spreadsheet HERE showing how HOME dollars were spent by state from 1992-2011 including a count of completed units produced for different purposes. 

I culled out the Oregon data into PDF HERE and added some calculations to show how much was used for different purposes. Some observations:
  1. Nearly 24,000 completed units in Oregon have received HOME assistance; 2,200 were home buyers and homeowners and the remainder of HOME assistance went for rental housing.
  2. 91% of $$ and 90% of Oregon HOME units completed were for rental housing. 
  3. The vast majority of Oregon HOME rental assistance went for Tenant Based Rental assistance. TBRA units accounted for 72% of all completed HOME units in Oregon--this was the HIGHEST percentage for any state in the country. The 14% of HOME funding spent for TBRA in Oregon was also the HIGHEST percentage in the country.
  4. Oregon HOME non TBRA rental average costs per completed unit were 59% higher than the US average ($50,488 vs. $31,819). [This may have been because units were targeted for those with the lowest incomes. Feel free to add comments to this post if other known reasons account for cost differences].
  5. All other HOME uses (home buyer, homeowner rehab, and TBRA) in Oregon had average per completed unit costs that were less than the national average.
 Originally created and posted on the Oregon Housing Blog.

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