Portland Rents Increased Significantly Over the Past Month -RHJ

Portland Rents Increased Significantly Over the Past Month

Portland rents have increased 0.4% over the past month, but are down slightly by 0.3% in comparison to the same time last year, according to a new April report from Apartment List.

Currently, median rents in Portland stand at $1,120 for a one-bedroom apartment and $1,330 for a two-bedroom.

Second straight month for Portland rent increases

This is the second straight month that the city has seen rent increases after a decline in December of last year. Portland’s year-over-year rent growth leads the state average of -1.3% but trails the national average of 0.9%.

Rents rising across cities in the Portland Metro

Portland Rents Increased Significantly Over the Past Month

While rent decreases have been occurring in the city of Portland over the past year, cities in the rest of the metro are seeing the opposite trend.

Rents have risen in 9 of the largest 10 cities in the Portland metro for which Apartment List has data. Oregon as a whole logged rent growth of -1.3% over the past year.

Here’s a look at how rents compare across some of the largest cities in the metro.

  • Hillsboro is the most expensive of all Portland metro’s major cities, with a median two-bedroom rent of $2,030; of the 10 largest Oregon metro cities that the company has data for, 9 have seen rents rise year-over-year, with Springfield experiencing the fastest growth (+2.7%).
  • Beaverton, Vancouver, and Eugene have all experienced year-over-year growth above the state average (2.0%, 1.7%, and 1.3%, respectively).

Article by:  BY THE EDITORS ON APRIL 1, 2019

Rental Housing Journal

To read the full article click HERE