In a recent government meeting, officials discussed the challenges of housing affordability in the larger Portland region, particularly for households of varying income levels. The meeting highlighted that a four-person household earning the median income of approximately $116,900 can afford monthly housing costs of about $2,920, translating to a home price of around $380,000. However, lower-income households, earning about $70,000—approximately 60% of the median family income—can only afford monthly housing costs of about $1,750, which is significantly below the current average rent of $2,000.

The discussion emphasized the critical role of nonprofit affordable housing providers in addressing the needs of households earning 60% or less of the median family income. These providers often rely on state and federal funding to develop affordable housing options. The meeting also noted that rental housing becomes more accessible for those earning between 60% and 80% of the median income, as this range begins to align with market rates, although there is less subsidy available for newly built affordable housing in this category.

Furthermore, the meeting revealed that the median home sales price in the region has reached $585,000, necessitating an income of at least $180,000—over 150% of the median family income—to afford such housing. In Wilsonville, approximately 25% of households earn above 120% of the median family income, indicating a significant portion of the population may struggle with housing costs.

The officials concluded that the focus of their housing policy strategy (HPS) will primarily target households within these lower income brackets, aiming to create more affordable housing solutions that reflect the standard distribution of housing needs across the Portland region.