The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Friday, August 30, 2019
Rent Increases in Portland Metro Are Beginning to Pick Up Again
As a large amount of units came online in 2017 and 2018, rent growth in the Portland Metro Area began to flatten. But RealPage reports that Portland area rents are up 3% since last year. While rent growth in the central city has remained relatively flat, suburban markets are seeing rents rise more quickly. In Beaverton and Vancouver, rents are up nearly 5%. While the Oregonian reports that a large number of new apartment units are still on the way, reporter Elliot Njus cautions that development permits in Portland are down due in large part to the city's inclusionary zoning requirement. Read more.