Housing Affordability Continues to be Out of Reach for Many Oregonians in 2011

On May 3, the Housing Alliance issued a press release highlighting new research that shows rental housing prices in Oregon continuing to rise, despite ongoing high unemployment and the effects of the recession. The report, Out of Reach 2011 from the National Low Income Housing Coalition, includes a “Housing Wage”, which measures the amount per hour a worker must earn in order to afford to rent a home at fair market rent. The Housing Wage for Oregon is $15.81 in relation to a two-bedroom home, nearly double the current minimum wage. That means a single worker employed at a minimum wage job would need to work 74 hours per week in order to afford a modest home with two bedrooms for his/her family. The Housing Wage for Oregon increased 6% from $14.93 in 2010 and is 35% higher than it was in 2000. Click here for the Housing Alliance’s press release, which includes a link to the full report.

— Posted on 5/04/2011