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.