New House Bill Wants to Boost Home Ownership in Oregon Among Communities of Color

Oregon’s lowly home-ownership ranking at 39 nationwide has fueled House Bill 2698 which strives to add 28,112 more owner-occupied households by 2030, with emphasis on boosting rates among ethnic groups.

Oregon lawmakers will focus on boosting home-ownership among communities of color, with House Bill 2698 setting a benchmark of 65.05% privately owned homes within the next five years.

Home Ownership in Oregon is Below the National Average

Oregon’s present-day home-ownership rate of 64.1% is below the national average of 65.9% and, according to the U.S. Census Bureau, Oregon has 1,111,597 owner-occupied households, which equates to about 63% of homes in the state.

Oregon Employment Department data reveals that home ownership in the state is primarily by whites and Asian populations, at 67% and 62% respectively.

However, disparities in home-ownership have been addressed by lawmakers in recent years. Task forces have been appointed to formulate plans of action to increase home-ownership of other race groups which fluctuate between 30% and 50%.

The House Bill was passed by the Oregon Senate on Tuesday. If signed into law by Governor Tina Kotek, the House Bill calls on the Oregon Housing and Community Services Department to establish a public dashboard to track the progress of home ownership goals.