Home Forward's Affordable Housing Crisis
Portland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Home Forward, Portlands primary affordable housing provider, grapples with a severe homelessness crisis, struggling to fill vacancies amidst rising costs and financial strain. With a debt service coverage ratio of just 1.14 in 2024, they face challenges in repaying loans for new buildings. Vacancies cost them $8.4 million in lost rent last year, and nearly half of their tenants were late on payments. Despite a salary freeze in 2026, top executives saw their salaries rise by 59-74% since 2022. As they project a ratio of 1.12 for 2025 and aim for 94% occupancy, financial pressure persists across similar agencies nationwide.
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