Portland’s Rising Rents Rank Our City as 15th Highest in the Nation

rentalmarketThis is no small feat. The top 10 is dominated by San Francisco (#1 most expensive) and its sisters across the bay San Jose (#5) and Oakland (#6), along with the population centers of New York, Los Angeles and Chicago. These are not cities Portland often shares lists with. Portland’s Multifamily investors are raking in more than those in Atlanta and any of Texas’s mammoth money-rich cities. According to a report in the Fiscal Times, the average 1-bedroom in Portland rents for $1,300, and 2-bedrooms run $1,450. The average price per bedroom in Portland is $950. Though still far behind our Seattle’s (#10) bedroom price of $1,360, and a steal compared to San Francisco rate of $2,850 per bedroom, Portland’s proximity to high rent neighbors may nudge prices upward in the near future.