Wednesday, March 13, 2019

FINAL Oregon FMR's are Out for FY 2018; Portland Metro Gets 2 BR 8.3%/$111 Increase to $1,441; But Douglas Gets $263/34.6% Increase to $1,023 for 2 BR.

HUD has finally issued 2017 final FMR's for areas that appealed. (The FY started October 1).  This impacts Portland metro, and Coos, Curry, and Douglas counties. 

The 3 page PDF I put together HERE and embedded below has those final FY 2019 two bedroom rents and percentage and dollar changes back to FY 2010. 

Portland 2 BR FMR Rent Goes Up, But Douglas County Goes WAY Up.
While Portland's 2 BR FMR is up a hefty 8.3%/$111 to $1,441, the Douglas county 2 BR FMR went up by $263, or 34.6 % in ONE year. [From $760 to $1,023]. 

From FY 2010 to FY 2019 to Keep the Portland Metro 2 BR FMR Affordable Would Have Required an Increase in Income of $24,080[72%], to $57,640.

  • Since FY 2010 the Portland metro 2 BR rent has increased by $602 or 72%. 
  • In 2019 to keep the Portland Metro 2 BR FMR affordable would require an income of $57,640.  
  • In FY 2010 the 2 BR FMR would require an income of $33,560.   
  • To keep the 2019 Portland Metro 2 FMR affordable would have required a 72%  INCREASE in income of $24,080 from 2010-2019. 
Note also that these changes in the FMR will also increase the HUD small area rents. 

Originally created and posted on the Oregon Housing Blog. 

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