For several years I have done a update that is a cheat sheet that shows how to calculate affordable rents using the minimum wage as a income example
The 2022 Oregon minimum wage is going into effect July 1 so I have updated and pasted the annual table below to show the rent that is affordable at the full time minimum wage and and, in a text box in that same column, how much affordable rents at the full time minimum wage changed from 2021 to 2022.
2022 Update: Affordable rents at Oregon July 1, 2022 full time minimum wage are going up from $26-$52 per month depending on the area in the state.
The highest full time minimum wage affordable rent is in the City of Portland is $1,023 using their 40% of income rent standard or $767 using the standard 30% of income.
The lowest rent affordable at the full time minimum wage, in non urban areas, is $650.
MORE to FOLLOW: What happened between 2016 and 2022?
Originally created and posted on the Oregon Housing Blog.
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