Upshur House
2650-1 Nw Upshur St
Portland, Multnomah County, Oregon 97210

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Funding Programs

Upshur House was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Project Based Sec. 8.

Section 8

Upshur House has a project-based Section 8 contract. 30 of the 30 total units at the property receive Section 8 assistance. This means that 100% 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, 2010 and the contract expires on April 30, 2030. The Section 8 contract rent is 117.7% 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, $1,208.00 for Two Bedroom, and $1,757.00 for Three 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.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2009 for $464,993 with a 10 year value of $4,649,930. The property was placed in service in 2010. 29 of 30 units at Upshur House are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.

Overview

Upshur House 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).

Upshur House is an apartment community containing 30 rental units. The property contains 62 bedrooms and based on typical apartment occupancy limits, Upshur House is home to not more than 120 persons when fully occupied.

Rent Subsidies

Upshur House 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

Upshur House contains a mix of 30 assisted one, two, and three bedroom apartments for rent. There are 8 One Bedroom, 12 Two Bedroom, and 10 Three Bedroom apartments in this property. The unit mix is 27% One Bedroom, 40% Two Bedroom, and 33% Three Bedroom apartment rentals. The average bedroom size for Upshur House is 2.07.

Oregon's 3rd

Congressional District

30

Total Units

29

Tax Credit Units

30

Project Based Sec. 8 Units

117.7

% of Fair Market Rent

30-Apr-30

Project Based Sec. 8 Contract Expiration

One, Two, and Three

Unit Mix

2.07

Average Bedroom Size

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