Salem, Portland and Bend are cities in the State of Oregon among the fastest growing in the U.S. This is good news for apartment owners as it becomes more difficult for individuals to purchase single family homes. The deciding factor for movers seems to be shifting from the liklihood of finding jobs to affordability and livability. Job creation seems to have slowed slightly due to the state of the economy but the fact that in-migration still remains high speaks volumes about Oregon cities and their growing popuarity. Population growth in the these cities, along with high construction costs (cutting the number of new apartment units coming on line) will keep the rental market tight and should prevent any long term negative effects on property income.Link to Articles:
Metro: Population May Double by 2060
http://portland.bizjournals.com/portland/stories/2009/03/16/daily39.html?ana=e_du_pub
Oregon Cities Among Fastest Growing in Nation
http://portland.bizjournals.com/portland/stories/2009/03/16/daily42.html?ana=e_du_pub
