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<br />HOUSING <br />“It’s only fair that everyone has a safe, decent place to live.” <br />20,000 <br />Number of households in Eugene and Springfield area that are eligible for subsidized housing, <br />according to the 2000 census. This number doubled from the 1990 census. <br /> <br />4,500 <br />Number of households in Eugene and Springfield area that receive a housing subsidy. <br /> <br />$626.00 <br />Monthly cost of an average pre-1988 two-bedroom rental in Eugene. The average cost for a newer <br />two-bedroom rental is $804. For a new three bedroom it’s $967. (Source of data: Duncan & Brown <br />Real Estate Analysis, November 2005. The Fall 2006 survey doesn’t report specific rent levels but <br />notes that rents have risen $10-40 per month.) <br /><1% <br />Overall vacancy rate in Eugene-Springfield (when 3 new and not fully leased complexes are <br />removed from the survey. If these are included the rate is 2.04%). This is the lowest since 1994. <br />Vacancies rate by type: studio is 1.05%, 1 bedroom is 1.11%, 2 bedrooms is 2.13%. As a result, <br />rents are rising and lower income households with credit barriers or the inability to pay up-front <br />costs find housing even more challenging. (Source of data: Duncan & Brown Real Estate Analysis, <br />Fall 2006) <br />$405.60 <br />Affordable rent for a one-person household earning full time minimum wage ($7.80/hr.), including <br />utilities, if 30% of household income is allocated for housing. <br /> <br />$16,224 <br />Annual gross income for a minimum wage full-time worker ($7.80/hr.). This is 41% of area median <br />income. <br /> <br />$49,326 <br />Area median income for a 3 person household. Very-low-income is 50%: $24,600. (Census <br />August 2006). <br /> <br />$24,000 <br />Typical per-unit local subsidy for new construction of very-low-income rental housing (including <br />federal CDBG and HOME grant funds, fee contributions, and Lane County Road funds. Subsidies <br />on projects range from as low as $7,000 per unit to as high as $50,000 per unit.) <br /> <br />$2.19 <br />Subsidy per unit/per day when averaged over 30 years at a $24,000 local subsidy. For the average 3 <br />¢ <br />person household this is 67 per person. Projects remain viable much longer than 30 years. <br /> <br />$200,000+ <br />Cost of a typical acre of medium density zoned land (R2) in Eugene. In 1999 an acre would sell for <br />$100,000; in 1994, $40,000 and in 1990 it was hard to find a buyer at $20,000. Now it is hard to <br />find an acre to purchase. <br /> <br />1,567 <br />Number of subsidized housing units built, acquired, or in advanced planning in Eugene since 1989. <br /> <br />2,000+ <br />Number of housing units rehabilitated with City of Eugene loan support since 1989. <br /> <br />$10,000+ <br />Typical cost to rehabilitate a housing unit through Eugene’s loan program. <br /> <br /> <br /> <br /> <br />For More Information: Richie Weinman, City of Eugene Planning and Development Department <br />th <br />99 W. 10 Ave. Eugene, Or 97401; 541 682-5533 richie.d.weinman@ci.eugene.or.us [May 22, 2007] <br /> <br /> <br /> <br /> L:\CMO\2007 Council Agendas\M070625\S070625B.DOC <br />