In every survey over the past two years, Portland metro has ranked consistently among the nation's lowest vacancy rates.
Seattle-Tacoma-Bellevue had the 8th lowest vacancy rate at 3.9%.
The nation's lowest vacancy rates were as follows:
- Portland-Vancouver-Hillsboro, OR-WA 2.4% (TIE)
- Allentown-Bethlehem-Easton, PA-NJ - 2.4% (TIE)
- San Jose-Sunnyvale-Santa Clara, CA - 2.5%
- Los Angeles-Long Beach-Anaheim, CA - 2.7%
- Albany-Schenectady-Troy, NY - 3.0%
- Austin-Round Rock, TX - 3.4% (TIE)
- Omaha-Council Bluffs, NE-IA - 3.4% (TIE)
- Richmond, VA - 3.4% (TIE)
- San Francisco-Oakland-Hayward, CA - 3.5%
- Nashville-Davidson-Murfreesboro-Franklin, TN - 3.7% (TIE)
- Providence-Warwick, RI-MA - 3.7% (TIE)
- Seattle-Tacoma-Bellevue, WA - 3.9%
- Boston-Cambridge-Newton, MA-NH - 4.0%
- Buffalo-Cheektowaga-Niagra FAlls, NY - 4.2% (TIE)
- Minneapolis-St. Paul-Bloomington, MN-WI 4.2% (TIE)
Although rent growth in the West and specifically Portland metro lead the nation, average rents increased to $850.