Multifamily NW Leadership
We all know that our region is a great place to live, but rising housing costs are threatening to price some families out of the communities they call home. In recent years, rents have risen quickly in Portland and across the state, while incomes have lagged behind. One of the major causes of rising rents is increased demand for rental housing. Unfortunately, we haven’t built nearly enough housing to accommodate these new residents. Even with thousands of new units already built and thousands more in the pipeline, we are playing catch-up. Read about the law changes from the 2016 Short Session as well as changes from the 2015 Session.
As we consider solutions, we should be careful to avoid those that actually reduce the amount of new housing built or increase housing costs, ultimately exacerbating the crisis. Rent control of any type produces fewer affordable units than incentive-based strategies that make financial sense, and it increases the cost of everyone else’s rental housing at the same time.The region needs quality housing options for families of all incomes. To get there, we’ll need collaboration from all sides: governments, nonprofits, foundations, property owners, and property managers.