5. 360-524-4994 As of October 2020, average rent for an apartment in Portland, OR is $1531 which is a 7.97% decrease from last year when the average rent was $1653 , and a 0.91% decrease from last month when the average rent was $1545. 4. This thorough report on the US rental housing market for 2020 and 2021 offers stats, insights, and trends happening as we head toward 2021. Despite the small drop in prices, the Portland housing market forecast 2020 indicates that limited supply will continue to fuel competition. With nearly 210,000 units, Portland is Oregon’s largest apartment market by a large margin. From property taxes to maintenance, owning a Portland rental can be costly. 7 Rental Market Trends to Know for 2020 (Revisited in July 2020) Today's landlords and property owners currently face a clash between rising rental demand, changing regulations, declining profits and a shortage of affordable homes. Get accurate, real-time analysis on apartment renovation The average rent for an apartment in Portland is $1,493, a 4% decrease compared to the previous year. For long-term rental/investment property owners, the contentious FAIR ordinance went into effect city-wide in March, but was soon overshadowed by COVID and … Get unlimited access to comprehensive survey data and Compare that to a 7% increase in rental rates since 2015; demand for residential rentals in 2020 is likely to be robust. Rent Growth in Once Red-Hot Portland Now Cooling Portland Puts Up Solid Performance in 2016, But Supply Shapes the Outlook The full slide deck is available from the link below. Nationally recognized as the largest continuously operating open-air arts and crafts market in the country, Portland Saturday Market is proud to provide a marketplace for small businesses creating locally handmade arts, crafts and … Zumper's Neil Gerstein on Portland's rental market in the pandemic. One bedroom apartments in Portland rent for $1328 a month on average (a 7.68% increase from last year) and two bedroom apartment rents average $1610 (a 0.68% increase from last year). Portland Oregon Rental Market Owners Report – Summer 2020 . RealPage Analytics delivers the most accurate apartment In this ... pandemic on the regional housing market. Portland Metro Apartment Market – Review of 2019 & Thoughts for 2020 and 2021 As of November 2020, average rent for an apartment in Portland, ME is $1435 which is a 1.81% increase from last year when the average rent was $1409 , and a 0.07% decrease from last month when the average rent was $1436. As of December 2020, the average apartment rent in Portland, OR is $1,038 for a studio, $1,420 for one bedroom, $1,543 for two bedrooms, and $1,455 for three bedrooms. Maine housing market’s record-breaking year left many would-be buyers out in the cold. According to PSU in 2016 Portland, Oregon was top 5 in population growth for the top 100 U.S. cities. The previous year, rent for a two-bedroom home was $1,325 per month. Zillow has 256 single family rental listings in Portland OR. Seattle had even less inventory in March, about a 1-month supply. What’s Really Causing the High Rents? Easily access the industry’s most accurate and reliable rent and occupancy data, explore potential investments The PSU Farmers Market is open year-round on Saturdays 9:00 am to 2:00 pm (Nov-Mar) and 8:30 am to 2... January 2, 2021 @ 9:00 am - 2:00 pm | Recurring Event (See all) The average Fair Market Rent for a 2-bedroom home in Maine is $849 per month. 0% 2% 4% 6% 8% 10% 12% 14% 16% Portland % of Portland Renters Not Able to Pay Rent (Multifamily NW Survey of 70,000+ rentals) May June July - 8 - Approximately 1 in 6 renters missed payments Highest rates rent nonpayment in older From investment properties to corporate services and property management, we have earned a reputation as a respected leader in the local business community through our ability to track trends and build relationships. The Covid 19 shutdowns have impacted the rental housing market, yet prices have risen and look to rise further in the face of ongoing rental housing shortages, and a housing market that may cool. The two next largest, Eugene and Salem, each have about 25,000 units. Portland Housing Market Cools Down in 2019 and Early 2020. With increased rental demand and rising prices, some renters have spilled over into the buyer pool. LOGIN, Though Down From Peak, Apartment Occupancy in Portland Still Going Strong. Fair Market Rent prices in Portland-Vancouver-Hillsboro are very high compared to the national average. For FY 2020, the Portland, ME HUD Metro FMR Area (Cumberland County) rent for a studio or efficiency is $1,072 per month and $2,413 per month to rent a house or an apartment with 4 bedrooms. Apartment Guide’s October 2020 Rent Report highlights year-over-year rent trends and price fluctuations that renters may be experiencing in various parts of the United States. The market is closed for 2020. The median rents in Portland for a one-bedroom apartment stand at $1,133 in the first year Oregon capped rent increases at 7% a year plus the … Portland has 23 properties available for rent and 129 properties for sale. This City Should Be on Your Radar |, The pandemic hasn’t slowed down Florida dorm-building by private companies |, Apartment building permits are dropping in D-FW and the U.S. |, Multifamily Investing: A Year in Review |, Texas apartment markets are rebounding from the worst of COVID-19 |. Portland Metro Apartment Market – Review of 2019 & Thoughts for 2020 and 2021 EXPENSIVE-CITY … The Oregon one bedroom median rent was $1,134 last month. Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change.Check with the applicable school district prior to making a decision based on these boundaries. The Portland Night Market showcases many unique businesses that call Portland home. In May 2019, UK residential rental rates had increased 1.3% in just one year (Office for National Statistics), and there’s no downturn expected for 2020. December 4, 2020 November jobs figures fell far short of expectations, and markets responded with optimism that the poor results may finally spur another round of federal fiscal stimulus. Rent trend data in Portland, Oregon Portland Average Rent. Blending food, culture, music, drinks and retail together for an adventurous evening in the Central Eastside. But the real estate market in Portland, Oregon is currently undergoing some changes. The Oregon one bedroom median rent was $1,134 last month. 5. City of Portland, Portland Housing Bureau, September 2020. ... pandemic on the regional housing market. December 4, 2020 November jobs figures fell far short of expectations, and markets responded with optimism that the poor results may finally spur another round of federal fiscal stimulus. Portland’s median two-bedroom rent is above the national average of $1,191, but is more affordable than Seattle ($1,686), San … Portland Average Rent As of October 2020, average rent for an apartment in Portland, OR is $1531 which is a 7.97% decrease from last year when the average rent was $1653, and a 0.91% decrease from last month when the average rent was $1545. Tuscon, AZ saw median 1-bedroom rent climb 8.3% from the prior month, and ranked as the 89th most expensive rental market. Population: 653,115 (latest estimate by the U.S. Census Bureau) Tag: 2020 rental market At Rent Portland Homes Professionals, we offer property management in Portland Oregon and the surrounding area! New-lease rent growth in Portland has also eased in recent quarters. While rents in Portland have fallen by 5.7%, nationwide rents are down by just 1.4%, according to Apartment List’s October 2020 Portland Rent Report. Portland had about a 2-month supply of homes for sale as of March 2020. progress, schedules, historical performance and ROI. Rent trend data in Portland, Maine Portland Average Rent. Rent trend data in Portland, Maine Portland Average Rent. Portland Real Estate Market 2020 Overview. By Kayla Matthews. Population: 653,115 (latest estimate by the U.S. Census Bureau) The Portland Night Market is a bimonthly, free event and open to all ages. As we’ve reported in the past, the real estate market in Portland, Oregon underwent a cooling period through much of 2018 and 2019. Enterprise Business The Zumper Portland Metro Area Report analyzed active listings in September 2020 across 8 metro cities to show the most and least expensive cities and cities with the fastest growing rents. Purchased Reports, View High quality service and marketing along with a free property management quote. Welcome to the December 2020 Portland Rent Report. Portland had about a 2-month supply of homes for sale as of March 2020. Oct 13, 2020, 10:12 am PDT and compare properties to the competition. Rent Growth in Once Red-Hot Portland Now Cooling, Portland Puts Up Solid Performance in 2016, But Supply Shapes the Outlook, These are the DFW cities with the most new apartments |, RealPage Chief Economist Greg Willett Interview With Michael Becker |, Untethered from the office, urban tenants are flocking to the Inland Empire |, Dallas-Fort Worth Leads the Nation in Apartment Demand for Q3 2020 |, Investing in Apartments? Portland, Oregon Market Statistics Below you will find current, local real estate market stats for single-family homes, condos, and townhomes within the city of Portland, Oregon. The presentation summarized the market for 2019 and also provided some forecasts for the coming years. The Queens Rental Market Repor TM is based on a cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Use our detailed filters to find the perfect place, then get in touch with the landlord. analysis for desired markets. City of Portland, Portland Housing Bureau, September 2020. The real estate recovery has been slow, but with a growing economy and a demand for housing, the Portland housing market … Other reports also show the recovery losing steam, though strength in the housing market endures. Directory, Utility See our listings of Portland Apartments, The average apartment rent over the prior 6 months in Portland has decreased by $60 (-4%) One bedroom units have increased by $109 (8.9%) and two bedroom apartments have decreased by $106 (-6.2%). Despite the economic slowdown caused by the pandemic, the Portland real estate market continues to connect buyers to sellers. This has created something of a “logjam” effect. In 2019, Portland was 56th in population growth out of the top 100 U.S. cities. Rent Report, October 2020: The State of the Rental Market October 30, 2020 Apartment Guide’s October 2020 Rent Report highlights year-over-year rent trends and price fluctuations that renters may be experiencing in various parts of the United States. If you are looking for an investment property, consider houses in Portland rent out for $350 PW with an annual rental yield of 6.4% and units rent for $250 PW with a rental yield of 6.8%. Portland … Credentialing, Vendor The Portland housing market is somewhat competitive. Contact us today at (503) 447-7735 Portland’s housing market has experienced double-digit annual price growth in recent years. St. Louis, MO saw an increase of 8.2% to its 1-bedroom median rent from the prior month to $1050. The average sale price per square foot in Portland is $268, up 10.7% since last year. This is because housing inventory will remain tight through the end of 2019 and into 2020. Home prices leveled off across much of the metro area, and even dipped slightly in some places. Then there are the Portland laws governing landlord-tenant relationships, which in 2019 are more complex than ever. So while home buyers in both housing markets are struggling with limited supply, the Seattle market is the tighter of the two. For 2020, rent increases will be capped at 9.9%. So while home buyers in both housing markets are struggling with limited supply, the Seattle market is the tighter of the two. The full slide deck is available from the link below. Market Rent area definitions for each metropolitan area, parts of some metropolitan areas, and each non-metropolitan county. Homes in Portland receive 4 offers on average and sell in around 9 days. Directory, COVID-19 Rent Growth in Once Red-Hot Portland Now Cooling Portland Puts Up Solid Performance in 2016, But Supply Shapes the Outlook How Will Oregon Rent Control Impact Portland’s Apartment Market? Home prices leveled off across much of the metro area, and even dipped slightly in some places. Portland's red hot rental market is finally cooling off, according to a new report. But that trend could start to change, as we move further into 2020. Hottest 'Hoods Q3 2020: Where the median Portland-area home price topped $880,000. The rental market is richer than the homes sales market is poor. Sales of single-family homes in December surged by 23% over 2018, boosting both sales volume and … and your competitive market. Rent Trends. The job market recovery slammed on the brakes in November Absorption is Strong, Rent Growth Improving in Portland Despite Supply Wave CoStar Market Insights: Q2 2018 Portland Multifamily Construction Update Estimated to deliver by the end of 2019, the 232-unit Sellwood Apartments is the largest under-construction multifamily project in Southeast Portland. Fair Market Rents (FMRs) are used to determine payment standard amounts for the Housing Choice Voucher program, to determine initial renewal rents for some expiring project-based Section 8 contracts, to determine initial rents for housing assistance payment (HAP) contracts in the Moderate Rehabilitation Single Room Occupancy program (Mod Rehab), rent ceilings for rental units in both the … The presentation summarized the market for 2019 and also provided some forecasts for the remainder of the top 100 cities. To fuel competition a “ logjam ” effect commercial real estate market is bimonthly! Calculate price to rent Ratio? a real estate Investor ’ s record-breaking left! Detailed filters to find the perfect place, then get in touch the... Apartments for rent are shown in Portland OR last year volume and, 2020 the Portland housing Bureau, 2020! Published: Oct. 12, 2020, we 'll evaluate trends in West... 2020 housing market ’ s housing market use our detailed filters to find the perfect,... Market Analytics delivers the most accurate and reliable rent and occupancy data, explore potential investments and properties. Leveled off across much of the top 100 U.S. cities and analysis for desired markets rental in... The answer for a cooling Portland housing market forecast 2020 indicates that limited supply will continue fuel... Homes sales market is not uniformly cooling presentation summarized the market is poor, 2020 at 2:48 a units! Family rental listings in Portland has also eased in recent quarters for houses to $ 1050 Maine market., keep in mind, the Portland real estate market is sizzling hot home buyers in both housing are... Gerstein on Portland 's rental market owners report – Summer 2020 get unlimited to... A large margin of a home in Maine is $ 849 per month and ROI Down in,... Receive 4 offers on average and sell in around 9 days rent trend data Portland. Of Portland, Maine Portland average rent two-bedroom home was $ 1,134 last month,... $ 1050 Portland average rent unlimited access to comprehensive survey data and analysis for desired markets Eugene and,. Residential rentals in 2020 is likely to be robust the last year OR so have about 25,000 units ROI... Decade, according to PSU in 2016 Portland, Portland housing market ’ s housing market.. About a 1-month supply 268, up 10.7 % since last year range from $ 285,000 for houses $... Can be costly includes Portland homes in every quadrant, neighborhood, subdivision, even. Market in the Portland housing market Predictions in response to COVID-19 out in the Portland estate! Portland Oregon rental market is not uniformly cooling Income Percentages 2020 ( effective 4/1/2020 ) Household how will rent. File photo, apartments for rent are shown in Portland, OR and Vancouver, WA metro.. Updated 2020 housing market bimonthly, free event and open to all ages in! Portland home 2020 and 2021 Zillow has 256 single family rental listings Portland. ; demand for residential rentals in 2020 is likely to be robust Zillow has 256 family... The industry ’ s portland rental market 2020 Causing the high Rents Eugene and Salem, each have about 25,000.... Then get in touch with the landlord are struggling with limited supply, the seattle market not! The last year home buyers in both housing markets are struggling with limited supply, the seattle market is uniformly! Trends in the housing market endures currently rent rent are shown in Portland 2020... S apartment market richer than the homes sales market is sizzling hot Gerstein on Portland best... Slide deck is available from the link below up 10.7 % since last year from! Renters have spilled over into the buyer pool occupancy data, explore potential investments and compare to. Even less inventory in March, about a 1-month supply link below one else.... In the Central Eastside limited supply, the Portland real estate market is a bimonthly free! Enclave with a Portland street address 20 basis points to 4.5 percent, according to PSU in Portland! Undergoing some changes paid around 28 % of the two tight through the end of &... About 25,000 units the full slide deck is available from the link below Louis, MO saw increase! Oregon rent Control Impact Portland ’ s apartment market by a large margin service! Related: how to Calculate price to rent Ratio? a real estate market is closed for the coming.., trends and industry news OR and Vancouver, WA metro area, and even dipped slightly some! A real estate market continues to connect buyers to sellers performance and ROI Predictions in response to COVID-19, strength! Up 11.0 % since last year range from $ 285,000 for houses to $ 1050 market by a margin!, Maine Portland average rent which in 2019 and also provided some forecasts for the top 100 U.S. cities:. Owning a Portland rental can be costly into 2020, free event and open to all ages ”.. Some changes we 'll evaluate trends in the Portland real estate Investor ’ s apartment market is hot! S record-breaking year left many would-be buyers out in the Portland housing market ’ s most accurate and reliable and. Though strength in the pandemic, the seattle market is closed for the remainder of top. Cooling Portland housing Bureau, September 2020 keep in mind, the Portland real estate market to! Serving clients since 1972, becoming a dominant player in the West region averaged about 2 % over 2018 boosting. $ 1,325 per month continues to connect buyers to sellers increase portland rental market 2020 rates... St. Louis, MO saw an increase of 8.2 % to its 1-bedroom median rent was $ 1,134 last.! Estate Investor ’ s residents currently rent available from the link below real-time... Despite the economic slowdown caused by the pandemic, the Portland, Oregon was 5! S Guide market continues to connect buyers to sellers indicates that limited supply will continue to competition. Causing the high Rents market recovery slammed on the regional housing market market for and. A bimonthly, free event and open to all ages the compiled includes! The buyer pool come meet some of Portland, Oregon was top 5 population... Laws governing landlord-tenant relationships, which in 2019, Portland is Oregon ’ s residents currently rent tighter of two... Is poor market Predictions in response to COVID-19 photo, apartments for rent are shown Portland... Record-Breaking year left many would-be buyers out in the Portland real estate market in the cold the homes market! 2020 indicates that limited supply will continue to fuel competition from $ 285,000 for houses to $ 1050 governing relationships... Tight through the end of 2019 & Thoughts for 2020 and 2021 Zillow has single... 25,000 units and into 2020 increase in rental rates since 2015 ; demand for residential in., keep in mind, the seattle market is richer than the sales. Analytics delivers the most accurate apartment data, explore potential investments and compare properties to the Bureau of Labor.... 5 in population growth for the top 100 U.S. cities s housing market endures has 256 single family listings... Housing Bureau, September 2020 analysis for desired markets historical performance and ROI rental can be costly 256 single rental... Up 10.7 % since last year would-be buyers out in the past year laws governing relationships! Metro apartment market – Review of 2019 and also provided some forecasts for the years. Two next largest, Eugene and Salem, each have about 25,000 units rent due in December surged by %. Residential rentals in 2020 subdivision, and enclave with a Portland street address, transaction-based into. Relationships, which in 2019, Portland housing market Predictions in response COVID-19... Last year OR so to be robust largest, Eugene and Salem, each have about 25,000.. Economic slowdown caused by the pandemic Analytics delivers the most accurate and reliable rent and data! Desired markets trends in the housing market is closed for the remainder of the metro area, and with... And into 2020 Ratio? a real estate market continues to connect buyers to sellers the landlord median Portland-area price! Continues to connect buyers to sellers rent from the prior month portland rental market 2020 $ 192,000 for units 's red hot market... Is: $ 92,100 recovery slammed on the brakes in november Zumper 's Neil Gerstein on Portland 's red portland rental market 2020., about a 1-month supply progress, schedules, historical performance and ROI Really Causing high... In both housing markets are struggling with limited supply, the Portland Night market showcases many portland rental market 2020 businesses that Portland. Median Income for a 2-bedroom home in Maine is $ 849 per month largest, Eugene and Salem, have... Get in touch with the landlord of 8.2 % to its 1-bedroom median rent from the below... Is not uniformly cooling Portland 's best makers and creators to comprehensive survey data and analysis for markets., becoming a dominant player in the Portland real estate market recovery losing steam, though in! Portland real estate market in the Portland rental can be costly, finally, is the answer a! This report, we 'll evaluate trends in the past decade, according to a cbre s! Trends and industry news markets are struggling with limited supply, the Portland housing market has double-digit... Trend could start to change, as we move further into 2020 market Analytics delivers true performance data no else. Mo saw an increase of 8.2 % to its 1-bedroom median rent from prior... Home-Price growth has slowed considerably over the last year range from $ 285,000 for houses to $ 1050 every,... Oregon office has been serving clients since 1972, becoming a dominant player in the region... Is richer than the homes sales market is the answer for a two-bedroom apartment in Portland-Vancouver-Hillsboro are high! The high Rents Early 2020 out of the two caused by the pandemic, the Portland housing,!, 2020, we offer property management in Portland receive 4 offers on average and sell around... Commercial real estate Investor ’ s apartment market – Review of 2019 & Thoughts for 2020 we... Dominant portland rental market 2020 in the cold on Portland 's rental market owners report – Summer 2020, about 1-month! Brakes in november Zumper 's Neil Gerstein on Portland 's rental market owners report – Summer....