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The Joint Center for Housing Studies of Harvard University released “America's Rental Housing: Evolving Markets and Needs” earlier this week.
The study sheds light on the country’s tight rental market and its effects on poverty and homelessness.
According to the study, for half of U.S. renters, the rent burden has increased beyond a third of a household’s income. This leaves families in the position to make difficult choices between keeping the lights on, keeping food on the table and keeping a roof over their heads.
Other factors, such as a slow economic recovery and low wages, have increased the demand for more affordable homes.
Portland’s rental market is in step with national trends. At the Portland Housing Bureau, we are working to counteract the effects of displacement so communities of color and others traditionally left behind by the market have equitable access to desirable neighborhoods and housing stability.
PHB knows there is a need for more affordable homes in desirable neighborhoods throughout our city. We have developed the Portland Housing Growth and Opportunity Analysis, a locational framework that guides our investments. That way, residents can continue to live in places with access to vibrant cultural resources, great schools, fresh food, living wage jobs and excellent public transit.
Severe Weather Shelters continue to be OPEN today, Monday, Dec. 9. Please call or click 211Info for updates.
Severe Weather Shelters are OPEN through Sunday night, Dec. 8. Please contract 211info for updates.
Portland/Multnomah County is expecting severe weather over the next several days. The Severe Weather Shelter is OPEN tonight and tomorrow night, Dec. 3 and 4. Please call 2-1-1 or click on 211Info for details and updates throughout the week.
Wells Fargo committed $5.15 million for home-buyer education, down payment assistance grants and other local projects.
We’ll have resources about accessing and maintaining homeownership at the NeighborhoodLIFT event from 10 a.m. to 7 p.m. Friday, Dec. 13 and Saturday, Dec. 14 at the Oregon Convention Center, 777 N.E. Martin Luther King, Jr. Blvd.
Homeownership can help build wealth and stabilize a family and community. If you’re considering buying a home, don’t miss the opportunity to obtain $15,000 of down payment assistance toward your purchase.