Oregon Minimum Wage, Take 1: Affordable Rent at 2023 Portland Metro Minimum Wage WENT UP $296/58.5% Since 2016: THIS Year it is GOING UP $36/4.7%.

BOLI recently announced changes in the Oregon minimum wage effective July 1st. 

I extracted historical data for all three minimum wage BOLI geographies and constructed the table below showing minimum wages, minimum wage changes, affordable rents at the minimum wage, and changes in the affordable rent at minimum wage for the years 2016-2023. [A PDF version of the table can be downloaded HERE].

Observations

• From 2016-2023 annual income at a full time minimum wage is going UP by $9,256 in STANDARD Areas, $11,856 for the Portland metro area, and $7,696 in NON URBAN areas.
• Affordable Rent at the 2023 STANDARD minimum wage WENT UP $231/45.6% since 2016. THIS year it is going UP $36/5.2%. to $738.
• Affordable Rent at the 2023 Portland Metro minimum wage WENT UP $296/58.5% since 2016.THIS year it is going UP $36/4.7%. to  $803.
• Affordable Rent at the 2023 NON URBAN counties minimum wage WENT UP $192/38.9% since 2016. THIS year it is going UP $36/5.6% to $686. 

Originally created and posted on the Oregon Housing Blog.