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Table 23. Comparison of income, housing value, and gross rent, Eugene,
<br />1989, 1999, and 2010
<br />Source: U.S. Census 1990 SF1 P080A P107A P1 14A P117, SF3 H008 H043A H061A, U.S. Census 2000 SF1
<br />P53 P77 P82 P87, SF3 H7 H63 H76, American Community Survey 2011 819013, 819113, B19301, 817001
<br />Table 24 compares income, housing value, and gross rent for Lane County
<br />in 1989, 1999, and 2010. Between 1989 and 2010, the ratio of housing
<br />value/household income grew from 2.6 to 5.2.
<br />Table 24. Comparison of income, housing value, and gross rent, Lane
<br />County, 1989, 1999, and 2010
<br />Change
<br />Indicator
<br />Indicator
<br />1989
<br />1999
<br />2010
<br />1989-1999 1999-2010
<br />Median HH Income
<br />$ 25,369
<br />$ 35,850
<br />$ 37,339
<br />41%
<br />4%
<br />Median Family Income
<br />$ 34,153
<br />$ 48,527
<br />$ 55,063
<br />42%
<br />13%
<br />Median Owner Value
<br />$ 72,800
<br />$ 152,000
<br />$ 236,600
<br />109%
<br />56%
<br />Median Gross Rent
<br />$ 425
<br />$ 621
<br />$ 826
<br />46%
<br />33%
<br />Percent of Units Owned
<br />51%
<br />52%
<br />45%
<br />Ratio of Housing Value to Income
<br />Median HH Income
<br />2.9
<br />4.2
<br />6.3
<br />Median Familv Income
<br />2.1
<br />3.1
<br />4.3
<br />Source: U.S. Census 1990 SF1 P080A P107A P1 14A P117, SF3 H008 H043A H061A, U.S. Census 2000 SF1
<br />P53 P77 P82 P87, SF3 H7 H63 H76, American Community Survey 2011 819013, 819113, B19301, 817001
<br />Table 24 compares income, housing value, and gross rent for Lane County
<br />in 1989, 1999, and 2010. Between 1989 and 2010, the ratio of housing
<br />value/household income grew from 2.6 to 5.2.
<br />Table 24. Comparison of income, housing value, and gross rent, Lane
<br />County, 1989, 1999, and 2010
<br />Source: U.S. Census 1990 SF1 P080A P107A P1 14A P117, SF3 H008 H043A H061A, U.S. Census 2000 SF1
<br />P53 P77 P82 P87, SF3 H7 H63 H76, American Community Survey 2011 B19013, B19113, 819301, 817001
<br />In summary, the data indicate that homeownership is increasingly
<br />expensive in Eugene and that the cost of homeownership is prohibitive for
<br />low- and moderate -income households. The purchase price of housing,
<br />however, decreased as a result of the current housing market downturn
<br />and has continued to do so through 2011. Data about housing sales for
<br />Eugene in 2012 suggest that housing prices are stabilizing and beginning
<br />to increase, although at a slower rate than the State average.
<br />The data indicate that homeownership rates in Eugene and Lane County
<br />have held constant, despite the rapid increase in sales prices during the
<br />mid -2000's. This is probably due in large part to the broader array of
<br />financing options available to households during the mid -2000's, many of
<br />which are not currently available to households today. The future
<br />availability of these financing options is unclear, as the local and national
<br />housing markets recover from the downturn and recession that started at
<br />the end of 2007.
<br />Part 11 — Eugene Housing Needs Analysis ECONorthwest Page 91
<br />c;nange
<br />Indicator
<br />1989
<br />1999
<br />2010
<br />1989-1999
<br />1999-2010
<br />Median HH Income
<br />$ 25,268
<br />$ 36,942
<br />$ 40,584
<br />46%
<br />10%
<br />Median Family Income
<br />$ 30,763
<br />$ 45,111
<br />$ 53,086
<br />47%
<br />18%
<br />Median Owner Value
<br />$ 65,500
<br />$ 141,000
<br />$ 212,900
<br />115%
<br />51%
<br />Median Gross Rent
<br />$ 418
<br />$ 604
<br />819
<br />44%
<br />36%
<br />Percent of Units Owned
<br />61%
<br />62%
<br />56%
<br />Ratio of Housing Value to Income
<br />Median HH Income
<br />2.6
<br />3.8
<br />5.2
<br />Median Familv Income
<br />2.1
<br />3.1
<br />4.0
<br />Source: U.S. Census 1990 SF1 P080A P107A P1 14A P117, SF3 H008 H043A H061A, U.S. Census 2000 SF1
<br />P53 P77 P82 P87, SF3 H7 H63 H76, American Community Survey 2011 B19013, B19113, 819301, 817001
<br />In summary, the data indicate that homeownership is increasingly
<br />expensive in Eugene and that the cost of homeownership is prohibitive for
<br />low- and moderate -income households. The purchase price of housing,
<br />however, decreased as a result of the current housing market downturn
<br />and has continued to do so through 2011. Data about housing sales for
<br />Eugene in 2012 suggest that housing prices are stabilizing and beginning
<br />to increase, although at a slower rate than the State average.
<br />The data indicate that homeownership rates in Eugene and Lane County
<br />have held constant, despite the rapid increase in sales prices during the
<br />mid -2000's. This is probably due in large part to the broader array of
<br />financing options available to households during the mid -2000's, many of
<br />which are not currently available to households today. The future
<br />availability of these financing options is unclear, as the local and national
<br />housing markets recover from the downturn and recession that started at
<br />the end of 2007.
<br />Part 11 — Eugene Housing Needs Analysis ECONorthwest Page 91
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