Wednesday, July 9, 2014

Metro Forecasts Portland Area Needs 7,000 New Apartments Annually 2010-2035 To Meet Demand

When considering the number of apartments under construction in the Portland metro area, a quick look at housing need forecasts by Metro are informative.

In 2012, Metro forecast housing in the seven county PMSA would need to grow by 175,316 multifamily units between 2010 and 2035 to keep up with population growth, equating to 7,012 units per year. The total number of multifamily units forecast to be needed within the urban growth boundary is 147,879 or 5,915 per year. The City of Portland will require an average of 3,966 units per year to meet expected demand.

Boundary Area
2010 Multifamily Households
2035 Multifamily HH Estimate
Total Increase
Annual Avg.
Increase
Portland
104,897
204,050
99,153
3,966
Hillsboro
14,251
23,211
8,960
358
Beaverton
21,953
30,479
8,526
341
Gresham
18,243
25,656
7,413
296
Inside Urban Growth Boundary
236,346
384,225
147,879
5,915
Outside Urban Growth Boundary
47,872
64,185
20,713
828
Four-County Total (Clackamas, Multnomah, Washington & Clark)
284,218
459,534
175,316
7,012
Tri-County Total (Oregon)
240,746
395,348
154,602
6,184

Download Report.