Tuesday, May 10, 2016

Compare 2 BR FMR Increases by Area Over Last 3 Decades; PDX % Increase Greater than LA Over Last 10,20, and 30 Years.

HUD has published a 2 BR FMR history from FY 1983-2006 in an Excel file HERE.

I did some calculations and created a state/area lookup table that allows you to compare for 5 areas at a time 2 BR FMR's and changes for the last three decades from among 4,700+ areas. I added a graph that displays results showing changes for the first and last areas you select in the table.  The file is HERE and embedded below. 

In the table you select an area geography from a pull down showing the state and area combination in the far left column and the results by decade are then returned for you and the graph is populated with the first and last selection you make in the table. [High and low values for each results column are color coded].

As a shortcut and in lieu of using the pull down you can type in the state name, a hyphen, and the area name like this: Michigan-Wayne County. (Most of the 4,700+ areas are county level, but many , especially in the NE, are at the town level [I count 350 areas within Massachusetts alone!]. A complete listing of areas by state is found in the lookup worksheet). You MAY have to download the file to use the pull downs. 

Alternately you can use the filters in the Data worksheet to select any combination of areas or values you like. (Note that the data worksheet only contains values for 2016,1996, and 1986).

My default table for Multnomah County (Portand metro) shows that for 2 BR FMR's :

  • The % increase is larger than the Los Angeles county increase for the last 10, 20, and 30 years. 
  • The % increase is smaller than King County, Wa (Seattle) for the last last 10, 20, and 30 years. [The King county % increase is the highest increase over the last 10 years, and the last 30 years among the 5 areas I have selected by default, which includes San Francisco].
  • The 2016 FMR ($1,208) is now higher than in Cook County, Illinois (Chicago) ($1,176), but it was lower in 2006, 1996, and 1986.
  • From 2006-2016 the FMR increased faster (67%) than in San Francisco County in California (49%).

Originally created and posted on the Oregon Housing Blog.

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