That'll happen when you artificially constrain development by imposing "urban growth boundaries". In the state of Oregon, 2% of the land is "developed", but that's just too much for the politicians and their preservationist pals. The result should come as no surprise, but apparently it did, and now they're getting all worked up into a lather over the outcome:
Close-in Portland neighborhoods have seen the highest rent increases in the region, according to the Metro figures. Between 2006 and 2015, rents increased 34 percent in Southwest Portland — equalled outside the city only by the Hillsboro-Forest Grove area. Rents increased 40 percent during that time in both downtown and East Portland. And they increased 71 percent in North Portland.
As a result, average monthly rents are now $1,828 in Southwest Portland, $1,172 downtown, $1,762 in East Portland and $1,811 in North Portland.
Yep, the average apartment here in southwest Portland is over $1800 a month. For an apartment rental! That's way more than the mortgage here at el rancho indebto, here in the desirable West Hills area of southwest Portland. And we have 3 bedrooms, 2.5 baths, a two-car garage, and some land. Amazing.
And in their infinite wisdom, the Metro (regional "government") declined to expand the UGB recently. Suddenly, they've recognized that there might be a teensy little problem, so they've been doing "studies" and holding meetings to see what can be done about this.
The answer, of course, seems to be: more government, and more money.
Chase is leading Metro’s first look at housing affordability in the region. Called the Equitable Housing Initiative, it has pulled together income and housing information from Multnomah, Clackamas, Washington and Clark counties. It has also looked at programs that have created large numbers of affordable housing in other metropolitan areas.
The information, released in a report titled “Opportunities and challenges for equitable housing,” was discussed at the first regional summit on equitable housing last Monday in Portland. It drew elected officials from all four counties. They included the entire Metro Council, Multnomah County commissioners Jules Bailey and Loretta Smith, Washington County Commissioner Dick Schouten, Beaverton Mayor Denny Doyle, Wilsonville Mayor Tim Knapp, Forest Grove Mayor Pete Truax, Lake Oswego Councilor Jeff Gordon and Sherwood Councilor Jennifer Harris.
Also present were representatives of nonprofit agencies from throughout the region that build affordable housing and others interested in addressing the housing crisis.
“No way can Portland meet this challenge by itself. Everyone has to be involved,” Chase says.
Maybe they could start by expanding the UGB. Nah. That'd make too much sense. We must protect the land!