Friday, September 30, 2016

Zumper Report Indicates Rents are Down in Portland

[Updated October 11, 2016 8:30am]
Zumper's National Rent report for October 2016 indicates that Portland's rents may finally be decreasing.  According to the report, rent for a 2-bedroom apartment is down 4.1% from last month, and rent for a 1-bedroom apartment is down 0.71%. As a result, Portland dropped one spot on the list of most expensive cities for renters, coming in at #16 behind Philadelphia. Read more.  Contrary to Zumper's report, the national apartment market data service Axiometrics has forecast average rent growth for Greater Portland at 7% for 2016, and 3.5% per year for 2017-2020.