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Housing Needs <br /> <br />Introduction <br />A critical element of the Consolidated Plan is a review and analysis of housing needs, <br />followed by objectives to address the prioritized needs. This section of the plan <br />examines challenges faced by Iow-income renters struggling to find affordable housing <br />in a costly market, and Iow-income households who would like to achieve the American <br />dream of owning their own home, but find acquisition and maintenance to be a daunting <br />task. Addressing the challenge requires public subsidies to counter the market forces <br />that create a cost-burden for over 50.0% of all renters and over 30.0% of all owners in <br />Lane County. <br /> <br />Data indicates there are significant housing needs in Lane County. Housing needs, as <br />defined by HUD, include cost burden, substandard housing, and overcrowding. <br /> <br />For Iow- and extremely Iow-income households in Lane County, Eugene, and <br />Springfield, both housing condition and affordability are housing needs that must be <br />addressed. Not all household types expressed the same housing needs. <br /> <br />This section describes the housing needs of Iow-income renters and owners by <br />household type, and the housing and supportive needs of people who are homeless and <br />people with special needs. The analysis of renter and owner housing needs is based on <br />2000 CHAS Data Book. <br /> <br />Housing Needs of Renters <br /> <br />Housing Affordability <br />The report, "Out of Reach 2003: America's Housing Wage Climbs," published by the <br />NLIHC indicates in Oregon an extremely Iow-income household (earning $17,051 or <br />30.0% of the area median income (AMI) of $56,837) can afford monthly rent of no more <br />than $426, while the fair market rent for a two-bedroom unit is $707. A minimum wage <br />earner can afford monthly rent of no more than $359. The report states that the average <br />renter's annual income in the Eugene-Springfield MSA is $26,141 and 51.0% of renters <br />are unable to afford a two-bedroom at fair market value. A monthly rent of $654 would <br />be affordable for a renter earning $26,141. <br /> <br />The following table illustrates the fair market rents (FMR) for the Eugene-Springfield <br />MSA: <br /> <br />Location Zero One Two Three Four <br />Eugene- <br />Springfield $378 $518 $675 $943 $1,089 <br />MSA <br /> <br />HUD has defined the MFI for the Eugene-Springfield MSA as $45,100. To be <br />considered extremely Iow-income, a family would earn $13,550 or less, Iow-income <br /> <br />43 <br /> <br /> <br />