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The Portland Housing Bureau recently released updated the inclusionary housing and deeper housing affordability price caps. These caps, effective June 1, 2021, limit the amount a developer can charge for a unit and still be qualified under these programs. Although the enabling code and rules refer to percentage of median family income (MFI) qualifications, the true gauge of whether builders may be able to participate in these programs are these caps, which are calculated each year based on MFI. 2021 Homeownership Unit Purchase Price Caps Unit Type 100% MFI Development Option Maximum Purchase Price 80% MFI Development Option Maximum Purchase Price 60% MFI Development Option Maximum Purchase Price Studio $332,451.24 $243,000.42 $190,750.19 All One-Bedroom Types $364,108.60 $268,385.12 $214,201.10 All Two-Bedroom Types $455,160.25 $340,422.75 $279,718.59 All Three-Bedroom Types $541,840.64 $409,030.02 $342,576.70 All Four-Bedroom Types $605,076.94 $457,055.11 $393,830.23 All Five-Bedroom Types $682,818.78 $517,821.56 $450,160.77 For more information on HBA's work in Portland, contact Ryan Makinster at ryanm@hbapdx.org.
The Portland Housing Bureau recently released updated the inclusionary housing and deeper housing affordability price caps. These caps, effective June 1, 2021, limit the amount a developer can charge for a unit and still be qualified under these programs. Although the enabling code and rules refer to percentage of median family income (MFI) qualifications, the true gauge of whether builders may be able to participate in these programs are these caps, which are calculated each year based on MFI. 2021 Homeownership Unit Purchase Price Caps
For more information on HBA's work in Portland, contact Ryan Makinster at ryanm@hbapdx.org.