Axiometrics: Portland Rent Growth #2 in U.S.

Portland's 12-month effective rent increases were 10.43% for the year ending February 2011 according to a report issued by Axiometrics, Inc., a provider of data and analysis on the multi-family sector.

The company said that effective rents nationally (true rents net of concessions) increased by 4.65%, further evidence of market strength that could lead this year to one of the largest pricing jumps in more than a decade.

Axiometrics Inc. measures the performance of the apartment sector every month. The company tracks individual properties or portfolios owned by both private and publicly traded apartment REITs (Real Estate Investment Trusts), as well as properties owned and managed by private investors, developers, and management companies in more than 300 markets, totaling over 16,500 properties and 4.4 million units. Read their full report.