Portland Rents Decline Again for Months Flat Yearoveryear

Afterwards three straight months of increases,  Portland rents declined slightly in October, declining 0.viii percentage over the by month, according to Apartment List.

Currently, median rents in Portland are $1,133 for a one-bedroom apartment and $1,337 for a ii-bedroom.

Portland proper has the least expensive rents in the metro area and Portland's year-over-yr rent growth is essentially flat and lags the state and national averages, which both stand at 1.iv per centum.

Rents rising across the Portland metro

While rents have remained flat in the city of Portland proper, cities across the metro have seen a unlike trend.

Rents have risen in ix of the largest x cities in the Portland metro for which Apartment List has data. Here's a look at how rents compare across some of the largest cities in the metro.

• Hillsboro has the well-nigh expensive rents in the Portland metro, with a ii-sleeping room median of $two,098; the city has as well seen hire growth of 3.7 pct over the past twelvemonth, the fastest in the metro.
• Over the by month, Canby has seen the biggest rent driblet in the metro, with a reject of 4.5 pct. Median two-bedrooms there cost $one,824, while ane-bedrooms become for $1,546.

Vancouver rents have increased for eight straight months

Vancouver rents, meanwhile, take increased 0.3 percent over the past month, and are up moderately by 2.one percentage in comparison to the same time last twelvemonth.

Currently, median rents in Vancouver stand at $ane,427 for a one-bedroom apartment and $i,684 for a ii-bedroom. This is the eighth straight month that the metropolis has seen rent increases after a turn down in February.

Vancouver's year-over-year rent growth leads the state average of 1.viii percent, also as the national boilerplate of 1.4 percent.

Rent growth in Oregon

While the study shows Portland rents declined recently, rent growth in Portland has been relatively stable over the past year – some other big cities take seen more than substantial increases.

Portland is however more affordable than most comparable cities across the land.

• Oregon every bit a whole has logged 1.4 percent year-over-twelvemonth growth, while rent trends across other cities throughout the state have seen both increases and decreases.
• For example, rents have grown by 1.0 percent in Eugene, while in Salem rents have fallen 0.vi pct.
• Portland's median two-bedchamber hire of $1,337 is higher up the national average of $1,191. Nationwide, rents have grown by ane.four percent over the past twelvemonth compared to the stagnant growth in Portland.
• While rents in Portland remained moderately stable this year, similar cities saw increases, including Phoenix (+4.0 pct), Las Vegas (+3.4 percent), and Austin (+iii.2 percentage); note that median 2BR rents in these cities become for $ane,097, $ane,188, and $1,471 respectively.

Eugene Rents Drib in October

Eugene rents accept declined 1.0 per centum over the by month, only are upwards slightly by 1.0 percent in comparison to the same time last year, according to the latest report from Apartment List.

Median rents in Eugene stand at $829 for a ane-bedchamber apartment and $1,102 for a two-bedroom.

Eugene's year-over-year hire growth lags the country and national averages, which both stand at 1.4 percentage.

Corvallis rents held steady over the by month

Different Eugene, while rents in Corvallis accept remained flat over the by calendar month they are up slightly year-over-year, by ane.iii per centum

Median rents in Corvallis stand up at $829 for a 1-bedroom apartment and $1,040 for a two-bedroom.

Salem rents plunge in Oct

Salem rents dropped iii.0 percent over the past month, and are downwards moderately by 0.6 percent in comparison to the same time last year.

Median rents in Salem stand at $820 for a one-bedroom flat and $ane,078 for a ii-bedroom.

Last month's report:

Portland Rents Continue Upwardly Trend for Third Straight Calendar month

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Source: https://rentalhousingjournal.com/portland-rents-declined-after-three-months-of-increases/

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