Oregon House Bill HB2698

Oregon 2025 Regular Session

• Introduced: 1/13/25
• Refer: 1/17/25
• Report Pass: 3/27/25
• Engrossed: 4/3/25
• Refer: 4/3/25
• Report Pass: 5/14/25
• Enrolled: 5/20/25
• Passed: 5/28/25
• Chaptered: 6/11/25
• Passed: 6/11/25

Caption

Relating to homeownership goal; and declaring an emergency.

Summary

HB 2698 establishes a statewide policy goal for Oregon to increase homeownership rates over time, measured by the U.S. Census Bureau’s American Community Survey. The bill sets a target of at least 65.05 percent homeownership by 2030 and then increases the target by 1.65 percentage points every five years through 2045 and beyond. The goal applies both to the state overall and to each racial or ethnic population for which the Census provides data, reflecting the bill’s emphasis on reducing disparities in homeownership. The bill also directs the Oregon Housing and Community Services Department to create and annually update a publicly available dashboard tracking progress toward the homeownership goal. The dashboard must report statewide and regional homeownership rates, again broken out by race and ethnicity. The measure declares an emergency, so it takes effect immediately upon passage. It does not itself create new executive authority, but it does establish a formal state policy and reporting framework around homeownership outcomes. The bill’s impact on state law is primarily policy-setting and reporting-oriented rather than regulatory. It adds a statewide homeownership objective to Oregon law and requires a new public tracking tool, which may influence future housing policy, program design, and budget priorities. Because the targets are disaggregated by race and ethnicity, the measure is intended to highlight and monitor racial homeownership gaps and broader housing equity concerns. The general sentiment around the bill appears favorable. It passed the House committee unanimously, passed the House on a strong bipartisan vote, and also cleared the Senate committee unanimously before passing the Senate with a comfortable majority. The bill’s findings and legislative findings language frame homeownership as a tool for wealth-building, stability, and reducing racial disparities, suggesting broad support for the policy goals. The main point of contention is likely not the concept of homeownership itself, but whether setting statewide numeric targets and tracking them by race and region meaningfully advances affordability and access, or instead creates aspirational goals without direct enforcement mechanisms. Some lawmakers may also have concerns about the feasibility of achieving the targets given housing supply constraints, cost pressures, and the bill’s lack of new program funding or mandatory implementation authority.

Impact

HB 2698 amends Oregon law by establishing a statewide homeownership policy goal and requiring the Oregon Housing and Community Services Department to publish an annual dashboard tracking progress statewide and by region, with racial and ethnic disaggregation where available. It does not create new executive authority or direct mandates for private parties, but it formalizes a state benchmark that may shape future housing policy, planning, and oversight. The emergency clause makes the measure effective immediately upon enactment.

Sentiment

The bill appears to have broad bipartisan support and little recorded opposition in the available voting history. It passed the House committee unanimously, passed the House floor with a solid majority, and then passed the Senate committee unanimously before receiving a comfortable Senate floor vote. The bill’s framing around wealth-building, housing stability, and racial equity suggests generally positive sentiment among supporters.

Contention

The primary tension is between the bill’s aspirational policy goals and its practical enforceability. Supporters emphasize the need to address Oregon’s homeownership gap, especially for communities of color and low-income households, while critics may question whether a dashboard and numeric targets are sufficient without new funding, programs, or enforcement tools. Any concern about the bill is likely centered on feasibility, measurement, and whether the state can realistically meet the escalating targets amid housing shortages and affordability challenges.