The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Thursday, September 26, 2019
Allowable Rent Increase in Oregon for 2020 Will Be Lower than 2019
The Oregon Office of Economic Analysis posted the allowable rent increase for 2020 under the new statewide rent control law. HB 608, which passed earlier this year, limits rent increases to 7% plus CPI (All Urban Consumers, West Region). In 2019, the total rent increase allowed in Oregon under the new state law was 10.3%. According to the Bureau of Labor and Statistics, CPI has decreased from 3.3% to 2.9%. As a result, the allowable rent increase for 2020 is 9.9%. Read more.