In the Board packet HERE (PDF pages 61 to 68) is the proposal to increase voucher payment standards as a result of the HUD approval of higher Fair Market rents following a locally paid for market study (see my prior post HERE).
Some preliminary observations:
HUD's Fair Market rent increased for every bedroom size from 30% for SRO's to 26% for 4 BR's and 28% for 2 BR's.
Home Forward is proposing that:
- Payment standard % increases range from 0% to 39%.
- The highest percentage increase in payment standards is 39% for SRO's and 0 BR's in SE Portland.
- The lowest percentage increase in payment standards is 0% for 4+ BR's in multiple locations.
- The highest 2 BR payment standard % increase is 29% in SW Portland.
- The highest 2 BR payment standard $ increase is $311 in downtown Portland and in Inner and Central NE.
- The highest 2 BR payment standard would be $1,425 (118% of FMR) in Downtown and Inner and Central NE and the lowest $1,050 in Outer SE. (87% of FMR).
21.7 % are located in downtown and Inner and Central NE (1,884/8,701).
NOTE: The work session packet ALSO includes detailed information about the proposed budget for Home Forward for the coming year.
Originally created and posted on the Oregon Housing Blog.