New housing report paints dour picture for Portland's poorest renters
Published by Portland Press Herald | by Hannah LaClaire
A new report from Harvard University shows that for the first time, more than half of Portland renters are considered cost-burdened, meaning they spend more than 30% of their income on housing.
More than half of Portland tenants are struggling to afford rent.
According to a new report from Harvard University’s Joint Center for Housing Studies, almost 52% of renters in the Portland-South Portland area are “cost-burdened,” meaning they spend at least 30% of their income on housing. And more than 24% are “severely” cost-burdened, meaning that more than half their income goes to housing.
It’s a new record for the area but one that affordable housing advocates say is unsurprising, given rent increases that have outpaced wage growth, a competitive buyers market, recently sluggish new construction and an uncertain federal policy environment.
The increase distills what advocates, along with policymakers, municipal and state officials and developers have been saying for years: Maine needs to build more housing.
Last year, about 45% of Portland-area renters were considered cost-burdened and just under 24% were severely cost-burdened.
Maine's increases mirror the national picture. Across the country, 50% of renters are cost-burdened, including 27% of renters who are severely burdened, according to the report. It's the third consecutive record-setting year.
"It's just a monstrous problem," said Victoria Morales, executive director of the Quality Housing Coalition.
