The U.S. homeownership rate has fallen to its lowest point since 1995, at just 65%. Oregon's homeownership rate is 62.3%.
The homeownership rate has fallen steadily after reaching a peak of 69.4 percent in 2004. Though some homeowners have become renters after losing their homes in foreclosure, the greater driver is that renting households have been slower to buy a home.
That increase in renting households, paired with limited new apartment and single-family home construction, has left renters with few options to choose from, and the Portland area is among the worst offenders.
Read more at OregonLive.com.