Wednesday, February 11, 2015

Home Forward Proposed Voucher Payment Standard Increases, Some as High as 26%.

In their February Board packet the Home Forward Board has a recommendation to increase housing choice voucher payment standards for many neighborhoods and bedroom sizes.(The largest % increase at 26% is for 1 bedroom units in North Portland and St. Johns, raising that standard to 118% of the HUD FY 2015 FMR).

I added to Home Forward staff comparisons to show $$ changes and comparisons to HUD FY 2015 Fair Market Rents for the Portland metro area. My analysis in Excel is HERE and embedded below (you may have to scroll to right to see larger bedroom sizes).  

Focused only on 2 Bedroom Units, some observations:
1. North Portland and St Johns see the largest % increases for 2 BR units at 21% and $173 monthly. However even with the increase the payment standard for that area and bedroom size will still only be 106% of the HUD fair market rent. 
2. Conversely, Outer SE would see no percentage change, and the 2 BR payment standard would be 88% of the HUD fair market rent.
3. Downtown, Northwest, Inner and Central NE all have a recommended 2 BR payment standard at 118% of FMR.

Originally created and posted on the Oregon Housing Blog

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