Tuesday, April 26, 2016
Breaking -- MultifamilyNW Reports Portland Metro Vacancies Increase Slightly to 3.52%
Overall rents in the Metro area have increased 13% year-over-year but new supply has caused rent increases to slow to 5.3% since the last report six months ago.
The report indicates that average operating expenses for all unit types have increased 6.3% year-over-year as landlords continue to see significant increases in property taxes and water/sewer expenses.
Transaction activity slowed 25% in the first quarter of 2016 and the median price per unit during the first quarter was $92,422 with an average Cap rate of 6.14%.
Watch this space for additional details.