Sunday, January 24, 2016

The Increase in HUD PDX 2 BR FMR's Over 10 Years is Very Close to the DOL Increase in Cost of Living, Rent Primary Residence for Portland/Salem.

My prior post with HUD FMR's for FY 2016 is HERE.

DOL's Portland/Salem cost of living rent of primary residence changes can be downloaded using the table query tool HERE, using this table number CUUSA425SEHA

I noticed that the PDX HUD 2 BR FMR for 2016 is 8.7% higher than FY 2015 [$1,026 vs. $944 ] while the 2015 Portland/Salem DOL cost of living rent, primary residence component was only 5.7%

That prompted me to compare the 10 year change in the HUD Portland 2 BR FMR to the change in the Rent, Primary Residence component of the cost of living for Portland. 

As the PDF file HERE and embedded below shows the increase in FMR's is VERY close to the increase in the Rent, primary residence component of the cost of living for Portland/Salem. [41.9% for 2 BR FMR's vs 42.2% for COL Rent, primary residence]. 

Some caveats: 

  • HUD FMR's don't follow calendar years, but fiscal years. 
  • IF Marion Counties FMR increase were factored into the comparision, the overall FMR increase would be smaller since FMR increases for Marion county have been less than for the Portland metro area. 

Originally created and posted on the Oregon Housing Blog. 

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