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Established 1969
Mission is to provide, develop, and preserve
decent, safe and affordable housing to families
and individuals while promoting efforts toward
self-sufficiency.
Independently-run public corporation,
autonomous from the County.
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Administer more than 2,100 Housing Choice Vouchers
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Own and manage over 1,500 affordable rentals in two counties
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Average development 50-100 units of rental housing each year.
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Homeowner Repair Program: zero-interest, no payment, deferred
loans
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Family Self-Sufficiency Program– clients set long-range goals for
self-sufficiency
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Resident Services : after-school programs and youth summer camps,
adult extended learning programs, referrals, classes in employability,
personal finance, parenting, and homeownership readiness.
Two major types of properties:
1) Deep Subsidy
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Tenants pay 30% of their adjusted income toward rent
Subsidies come from HUD and USDA Rural Development
Tenants are recertified annually or as needed
308 units are in deep subsidy projects
Waiting lists from 3– 4 years
2) Below Market Rate Properties
Tenants pay a fixed rent that is below the
market rate rent.
Example: Finley Square, Medford
2 Bedroom/2 Bath, 1,200 square feet with garage
Market Rent = $1075/month
HAJC Rent = $960/month
Targeted to tenants below 80% AMI
Primary funding sources for below market rent
units include:
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Low Income Housing Tax Credit (LIHTC)
HOME
Oregon Trust Fund
Oregon Affordable Housing Tax Credits
Public Bonds
Private Bank Loans
HAJC Equity
Units are targeted to families between 40% - 80% AMI
with the majority of HAJC units targeted to the 50% AMI
households.
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“Struggling to find a home”
April 9, 2017 – Medford Mail Tribune
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“Rental crisis in Jackson County looms as housing
costs outpace wages”
May 3, 2015 – Medford Mail Tribune
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“Where home prices are rising fastest”
May 30, 2012 - CNN Money
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“Soaring rents, stagnant wages create housing crisis”
May 3, 2015 - Medford Mail Tribune
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“Southern Oregon’s Rental Market is Now Worse Than
NYC’s”
July 23, 2015 - The Rogue Valley Messenger
Declining Rental Vacancy Rates
Market Rate
From 5% to 4.5% in 2008 to <2% Today
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HAJC Portfolio
4 to 4.5% in 2008 to roughly 1% Today
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Increasing wait lists:
*Housing Choice Voucher Wait list has doubled since 2008*
2008 waitlist averaged two thousand (2,000)
households.
2017 waitlist averages four thousand (4,000)
households and a 4 ½ year wait time.
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Housing Choice Voucher lease-up
success rate is declining.
More and more difficult for clients to utilize a voucher when
they get to the top of the list because there are not enough
rental units in the market.
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2008 Success rate was 93%
2017 Success rate as declined to 63%
Households/individuals seeking a 1 bedroom
unit struggle the most.
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Multi-family new construction continues to witness
an staggeringly quick absorption rate in the
market.
HAJC projects are filled within hours of opening a
wait list. Waitlists are one to two years long within
24 hours.
HAJC recently went from a first-come first-serve
approach to a lottery system to assimilate new
project wait lists.
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Housing costs are escalating at a faster pace
than income levels.
Number/percentage of rent burdened
households continue to increase in Jackson
and So. Oregon.
• # Renter Households in Jackson Co. = 32,085
• # Extreme Rent Burdened = 9,759
• Nearly 1/3 Renter Households pay more than 50% of their income on
housing costs.
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Available land with proper zoning and/or
infrastructure
Cost of Land (some communities)
Construction & Development Costs
Economy of Scale
Lack of Incentives/Funding
*Particularly for middle/median income
Complicated Bank Financing
Developers’ Bottom Line