NATIONWIDE Side by Side Comparisons by Area of HUD 2 BR FMR Increases Over Last 10, 20, and 30 Years; Portland FMR Increases Ahead of Other West Coast Areas.

I recently ran across my May 2016 post HERE that included an Excel tool I created that allows users to select up to 5 HUD Fair Market Rent areas nationwide and see side by side how 2 BR FMR rents changed from 1986 to 2016. 

It's six years later so I did a NEW Excel workbook HERE that allows those comparisons for the 10 years ending in FY 2022. (I retained the previous FY 1986 comparisons in the same workbook).  

An explanation of how the workbook is structured and how to use it below, but first a Portland metro summary vs other areas in the West:

The Portland Metro 2 BR HUD FMR Increase Over 10 Years (95%) and 30 Years  (236%) Was:

• FASTER than King county (Seattle), 
• FASTER than San Francisco county,
• FASTER than Los Angeles county and,
• FASTER than Sacramento county.

The  default comparison table and graph I have pasted below shows you comparisons between changes in Portland metro 2 BR FMRS and those in  King county (Seattle), San Francisco county, Los Angeles county, and Sacramento county.

 

 The data shows 

1. That over the last 10 years AND over the last 30 years the Portland metro 2 BR FMR increase of 95% (10 years) and 236% (30 years) was FASTER than ANY of those areas. 
2. In the decade from 2002 to 2012, the Portland metro 2 BR FMR increase of 19% trailed all but San Francisco county. 
3. Over the last 20 years the Portland metro 2 BR FMR increase (132%)  was less than King County (142%) and Lost Angeles county (148%) but higher than Sacramento (118%  and San Francisco (83%). 
4. Nevertheless, in 2022 the Portland HUD 2 BR FMR ($1,735) is lower than Seattle, San Francisco, and Los Angeles and higher than Sacramento. 

Note: Previously some areas had FMR's set at 50% of market rents by HUD instead of 40%. The loss of that status (no area has had 50% FMR's since 2020) means that FMR increases were moderated for those areas that lost that status since they once included a higher base amount.  

Instructions

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 increases for the last three decades from among 4,700+ nationwide areas. I added a graph that displays results showing increase for the first and last areas you select in the table.  

In the side by side comparison table you select an area geography from a pull down showing the state and area combination in the far left column. 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. [The high value in each results column has a yellow fill].  To find an area without using the pull down if you know the area name (usually a county) you can also type in the name of the state, a hyphen, and the name of the area (county), like this: "Michigan-Wayne county" and the results will be returned for that area. 

Alternately you can use the filters in the data worksheet to select any combination of areas or values you like. In the 2016 data worksheet only values for 2016, 2006, and 1996 are available, but in the 2022 data worksheet data is available for ALL FY's not just 10 year values. 

I copy protected the side by side worksheets and the state lookup worksheets as the side by side comparisons use lookup hidden lookup formulas that could be inadvertently changed or deleted. 

The data worksheets are unprotected. 

Originally created and posted on the Oregon Housing Blog.