Thursday, August 30, 2018

HUD FY 2019 FMR's are Out; Most Counties See Increase, Portland Metro Decrease May be Temporary.

HUD 2019 Fair Market Rents (FMR's), effective October 1st, have been released HERE.  

I created a PDF file HERE and embedded below two Oregon county level tables with historical data going back to FY 2010 (You may have to scroll right or download to see all columns. The first table shows 2 BR FMR's by year, the second the % annual change. 

Most counties show increases but note the multi-county Portland Metro 2 BR FMR (includes Clark and Skamania counties in Washington state) has been cut from $1,330 to $1,325. This was anticipated as the previous local market survey used for the prior FMR expired after 3 years and ACS data is now being used for 2019 FMR's.

A new local Portland metro market survey is likely to be conducted; should it demonstrate higher rents, the 2019 Portland metro FMR's could be later revised if the survey results are accepted by HUD.  Note that since 2010, the Portland 2 BR FMR is up nearly 58%

Originally created and posted on the Oregon Housing Blog

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