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Forums - Politics Discussion - Cost of living in Oregon rises $3/hour.... In 2016 alone.

http://katu.com/news/local/report-hourly-wage-needed-to-afford-2-bedroom-apartment-in-ore-rises-by-3-in-2016

 

PORTLAND, Ore. -- The hourly wage needed to comfortably afford a 2-bedroom apartment rose by $3 in the past year, according to a report from the National Low Income Housing Coalition. 

In last year's report, Oregonians would have to make $16. 61 per hour to afford a 2-bedroom apartment while working a 40-hour week, 52 weeks per year, without paying more than 30 percent of income on housing. 

This year, that number jumped up to $19.38 per hour. With the set $9.25 per hour minimum wage, you would have to work 84 hours to afford a 2-bedroom unit at market value which is $1,008.

The report goes on to say that many low income Oregonians are facing a housing cost burden, made even worse by a deficit of rental units. 

In 2015, Oregon ranked 25th overall for highest rent. This year's report landed us in the 18th spot. 

Washington ranked 10th this year, where you need to make $23.13 per hour to afford a two-bedroom apartment. California ranked 3rd, with a wage of $28.59 per hour.

 

 

 

Thoughts? I will say this, we have an unusually high amount of residents mooching off welfare programs with some crazy high number like one third of people using food stamps. But, we also have a legal weed industry that is BOOMING and the amount of taxes collected on that will be billions annually (Just became legal last year). The sad part is this is not even the worst nationally, not by a long shot. If you don't have two forms of income, yikes. I still love my state regardless.



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spurgeonryan said:
It's an up and coming state. Not as hot as California and not as dreary, isolated and wet as Washington.

Mild climate.

The climate here is not mild, it's erratic and bipolar. Any native can tell you that. It goes from 90 degrees and clear skies to thunderstorm all in the same day and we get all weathers. Not a mild climate, definitely not extreme per se, but not mild either. And actually it rains nearly as much in Portland as it does in Seattle.

 

We also have a higher than national average unemployment rate. The only reason I would call Oregon up and coming is because we've been the number one moving destination nationally for the past three years. 



Just imagine if you live near Austin, Texas. Every year a new article comes out... Best place to live Austin... Then a shit ton of people move here to an area that the roads are already jammed. Solution? Build more toll roads.

I feel a little lucky though after reading the op.  I'm in a suburb of Austin and bought a small but nice 3 bedroom/2 bath house a few years back with monthly payments at about 1,200.  I was in apt before that but the rates kept creeping up each resigning and got to the point where I was like shit might as well buy a house.



so the cost of living rise of $3 was completely based on renting a 2 bedroom apartment and not anything else. I will say my rent went up 15% this year in minnesota and i'm pissed about it. The only other thing that seems to be going up a lot is health insurance for obvious reasons.



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johnsobas said:
so the cost of living rise of $3 was completely based on renting a 2 bedroom apartment and not anything else. I will say my rent went up 15% this year in minnesota and i'm pissed about it. The only other thing that seems to be going up a lot is health insurance for obvious reasons.

Ask and ye shall receive.

 

http://money.cnn.com/2016/02/05/pf/oregon-unaffordable-california/

Portland home prices jumped 11.1%between November 2014 and 2015 -- the biggest increase in the country. Rent prices also went up 13.7%, according to Zillow.

The median home price in Portland is now $345,500. In San Francisco, it's $1.12 million. 

But wages haven't kept pace. Real estate agents said many new residents have high-paying jobs that let them work remotely. 

"They maintain the salaries from where they use to live ... and those salaries -- especially those having to do with software, engineering and development -- happen to be higher than what most companies pay in Portland," said Alyssa Isenstein Krueger, a real estate agent at Living Room Realty.

Tight inventory and rising home prices make it tough for locals to compete. 

"For people in Portland, it feels like the city is getting away from them," said Nick Krautter, a real estate agent from Keller Williams Portland. "For two school teachers making $70,000 a year, it's tough for them to buy anything for over $300,000. But for people coming here with millions, it's a bargain."

Krautter worked with a client last year who sold his home in Silicon Valley for $4 million and was considering buying two 12-unit apartments in Portland. 

All-cash offers are prevalent, and tend to come from new residents. "People are making crazy offers ... it starts to skew the market in what houses should be selling for," Johnston said.

Bidding wars have skyrocketed, with some homes selling for $150,000 above the list price, according to real estate agent Rachel Freed at Urban Nest Realty. Now, when she has a client with a $550,000 budget, they consider homes priced around $450,000 in order to compete.

 

 

So, it's not just 2 bedroom apartments being affected, although I could have told you that from the start but this makes for a much more compelling arguement. 



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I live in Texas. :D

I pay that much on mortgage for a 2000 sqft 3-bedroom house.



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Azuren said:
I live in Texas. :D

I pay that much on mortgage for a 2000 sqft 3-bedroom house.

Left wing state vs right wing. It makes a difference.

Cost of living ain't that bad here in Arizona either and were growing faster than Oregon.



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Move to Tennessee. 3 story, 4 bedroom, 2 full bath, for only 800 a month. Center of town and low crime as well. Maybe all those people who left 150 years ago will move back to the south.



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homer said:
Move to Tennessee. 3 story, 4 bedroom, 2 full bath, for only 800 a month. Center of town and low crime as well. Maybe all those people who left 150 years ago will move back to the south.

I personally want to move to Montana.



Mr Puggsly said:
Azuren said:
I live in Texas. :D

I pay that much on mortgage for a 2000 sqft 3-bedroom house.

Left wing state vs right wing. It makes a difference.

Cost of living ain't that bad here in Arizona either and were growing faster than Oregon.

What are you talking about?  Arizona and Texas are both Republican states.