Portland Oregon Real Estate Market September 18, 2015

Vancouver Sees Nation’s Largest Year-Over-Year Rent Hike; Portland and Seattle Tied in Third

According to a study done by Apartment List, Vancouver, Washington, saw the nation's single largest rent hike year-over-year from July 2014 to July 2015. The study assessed the monthly listings on their website, of which there are several hundred thousand, and came up with the following percentage changes for 2 bedroom apartments: Vancouver's 2 bedroom rents jumped by 9.8% from July 2014, to July 2015, with the average 2 bedroom rental currently renting at $1050. Portland and Seattle both saw rent spikes of 8.5% (Miami came in second at 9.3%). Portland's average rent for a 2 bedroom rental is $1550 a month, which is good for the 13th highest rent in the nation among assessed cities; Seattle's $2100 a month for a 2 bedroom is the eighth highest.

Full Article: http://www.oregonlive.com/front-porch/index.ssf/2015/09/vancouver_had_nations_fastest-.html

Full Statistics: https://www.apartmentlist.com/rentonomics/july-2015-national-rental-price-monitor

These rising rents in the Portland Metro Area are forcing many buyers and renters to reconsider the calculus of "renting vs. buying" and which option is more affordable. If you'd like to have a free consultation to evaluate your buying position and whether buying may make more sense than renting, feel free to shoot me a call or email! I'd be happy to discuss it with you.

Bill – 503.890.2928 – bgrange@windermere.com