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About The skanner. (Portland, Or.) 1975-2014 | View Entire Issue (April 19, 2017)
Page 10 The Skanner April 19, 2017 FAIR HOUSING Rent cont’d from pg 9 ers oft en have to make fi nancial sacrifi ces, like putting off saving for a down payment, medical care and planning for re- tirement. Homeownership can be an important path to building wealth, but making the transition from renter to home- owner is a bigger fi nan- cial challenge for renters living in mainly black or Hispanic areas. “This research sheds light on another exam- ple of inequality in the housing market,” said Zillow Chief Economist Dr. Svenja Gudell. “Renters in Afri- can-American or Hispan- ic neighborhoods fi nd themselves in a catch-22 situation - while owning a home is a great way to build wealth, you need to save up some cash to be able to buy. If you’re spending close to half of your income on rent, saving up that down pay- ment is going to be in- credibly diffi cult.” Rent aff ordability across the nation has diminished since 2011, as housing costs have outpaced income. It has worsened more in mi- nority areas than it has in predominantly white neighborhoods. Over the past fi ve years, the share of household income needed to pay monthly rent in Black and His- panic neighborhoods has increased by four percentage points and seven percentage points, respectively. In White communities, the share of income needed to pay rent has increased by three percentage points. For those who are able to save up for a down payment and buy a home, monthly mortgage pay- ments are much more aff ordable than rents across racial communi- ties. In Black communi- ties, mortgage payments required 13.6 percent of the median household income. In Hispanic com- munities, they require 22.8 percent of the medi- an income, and in white communities, 15.2 per- cent. 2016 Metropolitan Area Share of Income Needed to Pay Rent United States NY/Northern NJ LA-Long Bch-Anaheim, CA Chicago, IL Dallas-Fort Worth, TX Philadelphia, PA Washington, DC Miami-Fort Lauderdale, FL Atlanta, GA Boston, MA San Francisco, CA Detroit, MI Seattle, WA Minneapolis-St Paul, MN Baltimore, MD Denver, CO Portland, OR Cleveland, OH Kansas City, MO Las Vegas, NV WHITE COMMUNITIES 30.7% 37.8% 50.0% 29.6% 30.4% 29.3% 26.1% 41.7% 26.8% 34.8% 48.8% 27.9% 34.8% 27.8% 27.5% 35.2% 37.1% 28.2% 25.4% 27.5% BLACK COMMUNITIES 43.7% 57.5% 63.7% 51.6% 41.1% 47.2% 40.0% 58.2% 32.2% 71.2% 74.8% 37.1% N/A 59.8% 43.1% N/A N/A 44.1% 34.0% 37.0% HISPANIC COMMUNITIES 48.1% 67.5% 63.0% 42.4% 39.8% 54.4% 36.3% 55.1% 39.9% 59.5% 62.5% 34.5% N/A N/A N/A 50.1% N/A N/A 32.5% 34.3% F R E E M OV I E S C R E E N I N G wake of vanport Digital narratives and storytelling from fl ood survivors and residents SUNDAY, APRIL 30, 2017 • 2 PM THE HOLLYWOOD THEATRE 4122 NE Sandy Blvd., Portland, OR 97212 Free to the public. Limited seating. RESERVATIONS REQUIRED. Together, this touching collection of truly heartfelt remembrances paint a poignant portrait of a short-lived, idyllic oasis —Movie Critic Kam Williams REGISTER ONLINE AT https://wakeofvanport.eventbrite.com PHOTO: Survivors gather on high ground to watch the destruction of Vanport. May 30, 1948. Photo by Allen deLay (1915-2005) ©Thomas Robinson Stories told by Vanport survivors and others closely related to the era will be screened at The Hollywood Theatre on Sunday, April 30 at 4:30 p.m. The stories focus on life in Vanport and the 1948 Memorial Day fl ood when a dike broke on the Columbia River. The rising waters completely destroyed Vanport, Oregon, the city built by industrialist and ship builder Henry J. Kaiser. Immediately following the screening there will be a discussion about possible plans for a Vanport memorial. SPONSORED BY: The Skanner Foundation • North Portland Multimedia Training Center (NPMTC) Mt. Hood Cable Regulatory Commission • Portland Community Media The Regional Arts and Culture Council • The Oregon Historical Society The National Endowment for the Arts: Art Works • The Hollywood Theatre