Report: Oregon apartments unaffordable for average renter
PORTLAND, Ore. (AP) — A new report says the average Oregon renter can no longer afford a one-bedroom apartment.
The National Low Income Housing Coalition’s “Out of Reach” report shows a renter would have to earn $36,161 a year to comfortably afford a typical one-bedroom rental in Oregon. The average renter household in the state makes $36,096.
The Oregonian/OregonLive reports the study uses fair-market rents, which are determined by the U.S. Department of Housing and Urban Development to set local values for housing vouchers. It considers housing to be affordable when it consumes less than 30 percent of a household’s income.
Though rising rents in Portland have garnered a lot of attention in recent years, the study shows there are only a few rural counties where the average one-bedroom apartment is affordable to a renter who works full-time earning the minimum wage.
Information from: The Oregonian/OregonLive, http://www.oregonlive.com