Affordable housing bond program | Metro

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Learn how Metro is making progress toward new affordable homes across the greater Portland region.

Row of three story houses with a road and trees.

Read the 2023 report

Each year, since the first bond funding became available to build new housing, Metro staff creates a report compiling detailed data about production. Highlights from the latest report include: 1,635 homes available to households with incomes at or below 30% of the area median income, 747 that are permanent supportive housing for households that have experienced homelessness and have at least one disability and 1,052 that come with rent assistance.

Read the 2023 report

Close up of a woman with red hair, smiling in front of an apartment building

Read the story report

“Better Together” tells the stories of people who recently moved into new affordable homes across greater Portland – and how the regional affordable housing bond is outpacing promises made to voters in 2018. Stories, photos, graphs and maps bring to life the meaning of affordable housing, and invite celebration of this important milestone: over 1,000 affordable bond-funded homes have opened! And more are being built every day.

Read the story report

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Learn more about supportive housing

In May 2020, voters in greater Portland approved a measure that will raise money for supportive housing services for people experiencing or at risk of experiencing houselessness. These services will end chronic homelessness in greater Portland.

Learn more about supportive housing

Metro Housing video

Watch a short video explaining the mission of Metro's supportive housing services fund and housing bond, and how they work together to address homelessness across greater Portland.

Metro Housing video

Four story apartment building with shrubery in the foreground

Learn more about equitable housing

Metro’s Equitable Housing Initiative convened local and national experts to research and coordinate on funding and investment solutions to the affordable housing crisis.

Learn more about equitable housing

The number of new affordable homes needed in greater Portland could be the equivalent of an entire city: According to the most recent data from the National Low-Income Housing Coalition, we are almost 81,000 homes short for households making 50% or less of the Area Median Income ($56,400 for a household of four). Rents in greater Portland have risen swiftly in recent years – much faster than incomes – pricing out especially Black, Indigenous and other people of color, immigrants, veterans, people with disabilities and other low-income renters. More people need affordable housing, and there is not enough to meet the demand.

Decision-makers in greater Portland have recognized that a housing crisis of the magnitude we are facing needs a regional response. In 2018, Metro partnered with local cities and counties to engage the community and ask voters to support the creation of new affordable housing in the region. The resulting voter-approved bond generates $652.8 million and will create homes for approximately 14,000 people – 2,000 more than its initial goal.

Now Metro collaborates with local cities and counties to fund and create new affordable housing and to provide supportive housing services. When people have ample, truly affordable housing options to choose from in each neighborhood across the region, everyone benefits.

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Housing news

Meridian Gardens offers new beginnings in Southeast Portland

Nov. 5, 2024 9:51 a.m.

The recovery-oriented affordable apartment community was made possible in part with a combination of Metro housing bond, supportive housing services, and transit-oriented development funds.
Building green space into affordable housing

By Lauren Everett
Oct. 14, 2024 4:10 p.m.

Developers creating new apartment communities built with Metro affordable housing bond funds are responding to community need for outdoor spaces with innovative site plans, preserving mature trees and creating places for people to gather.
Scholar of Oregon’s Black history celebrated in naming of new affordable apartment community

Sept. 19, 2024 11:27 a.m.

The Dr. Darrell Millner Building brings 63 affordable apartment homes to North Portland. The building was developed using over $9 million in Metro affordable housing bond funds.
Plaza Los Amigos brings 113 affordable homes to Cornelius

Sept. 11, 2024 10:19 a.m.

Funded in part by the Metro affordable housing bond, the new community has doubled the small town’s affordable housing inventory.
Las Flores celebrates opening in Oregon City

Sept. 5, 2024 9:20 a.m.

Metro’s affordable housing bond helped fund the construction of Las Flores, a housing development in Oregon City with 171 homes. Seventy apartments are for households who earn 30% of the area median income or less, and 129 apartments have two or more bedrooms.
Cedar Rising celebrates grand opening, bringing 81 affordable homes to Aloha

June 17, 2024 10:24 a.m.

Metro’s affordable housing bond and transit-oriented development program helped fund the construction of Cedar Rising, an affordable housing complex in Aloha. Thirty-three apartments are reserved for households with incomes at or below 30% of the area median income.

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