FY 2022, Oregon Counties: The Share of Income Required to Pay HUD 2 Bedroom FMR at the Very Low Income Limit Decreased, But NOT in Portland Metro Counties, and Jackson County.

The increase in  FY 2022 HUD income limits released this week was substantial.

I thought it would be useful to see how much of the income of very low income renters was now required to pay the FY 2022 FMR's, which were just updated April 1st for the Portland metro area. 

The paste in below shows my analysis using 2 BR FMR's and 3 person very low (50% MFI) income limits. 

Observations

• In ALL counties, except for Portland metro counties and Jackson county, paying rent at FMR would consume LESS income at the very low income threshold in FY 2022 than in FY 2021. 
• Because of a big jump (13%) in Portland metro FMR's (based on a locally funded market study) the share of HH income required for FMR went up to 43%, despite a big jump (10%) in very low income limits. 
• While there were improvements, in FY 2022 there are only 3 (rural) counties in Oregon (Harney, Lake, and Wheeler) where a very low income household would pay less than 30% of income at the HUD FMR level. 
• In contrast there are 13 counties (including all 5 Oregon Portland metro counties) where 40% or more of VLI income is required to pay the FMR. 

Originally created and posted on the Oregon Housing Blog.