Portland faces housing crisis as senior homelessness increases amid rising rents

The Senate Committee on Housing and Development convened on February 24, 2025, to address critical issues surrounding housing affordability and homelessness in Oregon. The meeting highlighted the significant population growth in the Tri-County area, with approximately one million new residents since 1990, and the failure to keep pace with housing development to accommodate this influx.

Key discussions revealed that many senior households struggle to find affordable rental options, with only three census tracts in the northeastern part of Portland offering any affordability. The situation is even more dire for those looking to purchase homes, as there are currently no affordable options available for the average senior household. This lack of affordable housing has contributed to an increasing number of older adults experiencing homelessness for the first time, raising concerns about the effectiveness of current interventions.

The committee members noted that historical trends, such as the decline in federal investment in housing since the 1970s, have exacerbated the housing crisis. As the population ages, particularly the baby boomer generation, the need for affordable housing solutions becomes more urgent. The discussions underscored the importance of addressing the financial pressures faced by older adults, whose savings and social security benefits have not kept pace with rising rents and housing prices.

Personal testimonies shared during the meeting illustrated the challenges faced by individuals who have experienced housing instability. One speaker recounted the devastating impact of losing a home due to predatory lending practices, emphasizing the emotional toll and the struggle to regain stability. The narrative highlighted the broader implications of housing insecurity, particularly for older adults who may lack the support systems necessary to navigate these challenges.

In conclusion, the Senate Committee on Housing and Development's meeting underscored the pressing need for comprehensive housing policies that address affordability and support vulnerable populations, particularly seniors. As the state grapples with these issues, the committee's discussions will likely inform future legislative efforts aimed at improving housing access and preventing homelessness among older adults.