The current pandemic is having an impact on rent prices in major cities and neighborhoods around the U.S. To quantify the impact, we’re focusing attention on some of the major cities and neighborhoods in the U.S. We will be presenting our findings in a series of “QuickView” reports.
The subject of this week’s QuickView is a snapshot of average rents in Portland, OR. Based on our analysis, the year-over-year rents in Portland are stable from last year.
Our standard City analysis uses a 6-month “LookBack” to establish an average baseline rent. The 6-month LookBack analyzes the rent data from the last 6-months, and for this analysis, the rent data included would be from May 1 – Nov 1.
The results from the 6-month LookBack analysis are presented in the table below:
|
City: Portland, OR (average rent) |
||||
|
6-month LookBack |
||||
|
Floorplan |
11/1/20 |
11/1/19 |
ch$ |
ch% |
|
$1,372 |
$1,386 |
-$14 |
-1.0% |
|
|
$1,636 |
$1,579 |
$57 |
3.6% |
|
|
$1,851 |
$1,810 |
$41 |
2.3% |
|
As the table shows, 1BR units decreased by 1%, while 2BR and 3BR units increased by 3.6% and 2.3%. Overall, the Portland market looks stable, especially when compared to other major cities.
You can try Rentometer Pro for a 7-day Free Trial (no cc req’d) by visiting: www.rentometer.com/pricing.
Portland, Oregon 1-Bedroom Rents: November 2020
Portland, Oregon 2-Bedroom Rents: November 2020
Portland, Oregon 3-Bedroom Rents: November 2020
Try QuickView Now!
This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology. If you liked this article, subscribe to Rentometer’s email newsletter to stay up-to-date on the latest trends in rental housing.