Marion Street Apartments
2028 Se Marion St
Portland, Multnomah County, Oregon 97202

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Funding Programs

Marion Street Apartments was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.

Section 8

Marion Street Apartments has a project-based Section 8 contract. 6 of the 24 total units at the property receive Section 8 assistance. This means that 25% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on May 01, 2015 and the contract expires on April 30, 2035. The Section 8 contract rent is 48.7% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,021.00 for One Bedroom and $1,208.00 for Two Bedroom.

26% of Oregon properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

Marion Street Apartments is an affordable apartment community located in Portland, Oregon which is located in Multnomah County. The property is located in Oregon's 3rd Congressional District served by Representative Earl Blumenauer (D), Senator Ron Wyden (D) and Senator Jeff Merkley (D).

Marion Street Apartments is an apartment community containing 5 rental units. The property contains 6 bedrooms and based on typical apartment occupancy limits, Marion Street Apartments is home to not more than 10 persons when fully occupied.

Rent Subsidies

Marion Street Apartments provides rental subsidies to renters. The type of subsidy provided to apartment renters in Portland, OR by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Marion Street Apartments contains a mix of 5 assisted one and two bedroom apartments for rent. There are 4 One Bedroom and 1 Two Bedroom apartments in this property. The unit mix is 80% One Bedroom and 20% Two Bedroom apartment rentals. The average bedroom size for Marion Street Apartments is 0.25.

Oregon's 3rd

Congressional District

5

Total Units

5

Project Based Sec. 8 Units

48.7

% of Fair Market Rent

30-Apr-35

Project Based Sec. 8 Contract Expiration

One and Two

Unit Mix

0.25

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data