Home Forward Officials Brief Board on Agency’s Struggles

Home Forward, Portland’s housing authority managing over 12,000 federal housing vouchers and 7,000 affordable units, briefed its board on March 17 about ongoing financial struggles including an 11.7% vacancy rate (over 900 empty units), widespread rent nonpayment, and operational challenges. Agency leaders attributed the crisis to factors including market rents dropping to match affordable rents, the city’s FAIR ordinance requiring landlords to accept tenants who may struggle to afford rent, oversupply of studio and one-bedroom units at 60% area median income levels, and poor performance by property management companies like Pinehurst Management. The agency’s budget shortfall has shrunk from $30 million to $13.8 million due to increased federal funding, while Portland City Council is considering using unspent housing dollars for “rent buy-downs” to help address vacancies.