Wednesday, October 16, 2013

Breaking... Multifamily NW Apartment Report Pegs Portland Metro Vacancies at 3.11%


Multifamily NW released its report this morning stating apartment vacancies in Portland metro have fallen from 3.55 percent reported in April to 3.11 percent.

Average rent per square foot has increased 5.8 percent in the past six months.

Inner and central NE has the lowest vacancy in the area, at 2.1 percent.

Geographic Area
Rent Per Square Ft.
Market Vacancy Rate
NW Portland
$1.61
3.5%
Hillsboro
$1.05
4.5%
Aloha
$1.06
2.5%
Beaverton
$1.04
2.3%
Downtown Portland
$1.82
2.8%
SW Portland
$1.35
3.0%
Tigard/Tualatin/ Sherwood
$0.98
2.6%
Lake Oswego/ West Linn
$1.10
3.2%
Wilsonville/ Canby
$0.99
2.7%
Oregon City/ Gladstone
$0.98
2.6%
Milwaukie
$0.98
3.9%
Clackamas
$0.98
4.0%
Inner & Central SE Portland
$1.17
2.3%
Outer SE Portland
$0.98
3.6%
Troutdale/ Fairview/ Wood Village/ Gresham
$0.90
5.9%
Outer NE Portland
$0.86
4.3%
Inner & Central NE Portland
$1.28
2.1%
North Portland/ St. Johns
$1.08
2.2%
West Vancouver
$0.87
2.5%
East Vancouver
$0.94
2.6%
Salem
$0.86
4.0%
Eugene/ Springfield
$1.01
3.4%
Bend/ Redmond
$0.83
1.3%

Read more in Wendy Culverwell's article in today's Business Journal.

Also today, Elliot Njus reports in The Oregonian:
Demand For Apartments, & Rents Keep Rising Despite New Construction