Rural Oregon Received Over $500M in 2020

In 2020, the USDA’s Rural Development invested over $542 million to help more than 2,200 low-income rural Oregon homeowners. RD’s Erin McDuff said they are focused on Oregon communities of 35,000 or less with the Single Family Housing Guaranteed Loan Program, Single Family Housing Direct Loan Program, and the Single Family Housing Repair Program.

“Home prices have risen in recent years, and not just in large metropolitan areas. So for example, the average cost of a rural home purchased with a USDA mortgage in Oregon last year was $247,000, which was the second-highest in the country for our program just after Washington state."

McDuff added over the past decade, Rural Development's programs have provided $4.9 billion in assistance to over 28,000 rural Oregonians.

"The benefits stretch far beyond individual families. Home ownership helps families and individuals build savings over time, but in turn provides a strong foundation and helps people start businesses, fund education through home equity, and climb ladders of economic opportunity. In essence home ownership helps build strong, sustainable rural community."

Rural Development also offers more than 50 loan and grant programs to help expand rural economic opportunities including infrastructure improvement, business development, community facilities such as schools and hospitals, and high speed internet access. To learn more about the programs offered through Rural Development.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia.com