Sunday, June 1, 2008

Portland 19th in Nation for Apartment Permits

The National Apartment Association reported Portland metro 19th for new multifamily unit permits among the top 50 multifamily markets in 2007. A total of 4,705 units – including condos – were permitted. This represented an minor addition of 3.34 multifamily units for each 100 additional jobs created. Renters make up approximately 1/3 of the population. With an average 2.5 people per household and 60% of renters in multifamily units (as opposed to single family or mobile homes) at least 7 units per 100 new jobs would be required just to keep the status quo.