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Rents and home prices have risen over the past 10 years, in part because housing supply hasn't grown as fast as our population. Because housing costs have increased so much, many households are spending over 30 percent of their income on housing – 30 percent is considered the most a household can reasonably afford. When housing costs are above 30 percent households may not have enough money for essentials like food, utility bills and clothing. This is especially true for renters, who may see rent increases year after year.
According to Metro's forecasts, Beaverton needs approximately 12,000 homes for new households by 2035. New households may have different needs and preferences than those who live here now – and the housing needs of existing community members will evolve as they age and their households change. To meet the housing needs of all community members, the city needs housing of all kinds, for all income levels, both now and in the future.