Thursday, September 3, 2015

Gap Between Seattle and Portland 2 BR FMR has Grown from 22% in 2014 to 47% in FY 2016 (Proposed).

Table pasted below has the details. 

Using the proposed 2016 FMR's, the gap for 2 bedroom units starting in October now be $474 per month, or 47%. [Seattle $1,488 vs Portland $1,014].

The gap in median gross rents according to the 2013 5 year ACS data was only 17% ($1,100 Seattle metro vs $943 for the Portland metro).

An adjustment to Portland metro fair market rents would require duplication of the kind of rent survey that Seattle PHA's submitted to HUD last fall to get boost in their FMR's. Such a survey might be funded by a single PHA or a consortium of PHA's or perhaps crowdsourced?

[Depending on how HUD funds the voucher program, higher FMR's could result in fewer families served, albeit with greater choices for the location of housing]. 

Originally created and posted on the Oregon Housing Blog. 

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