State of Housing in Portland: 2018 Report

The City of Portland released its State of Housing in Portland report for 2018 today, which shows that average rent growth in the city was just 2% in the second quarter of 2018, down from an average rate of 8-9% in 2015. Additional report highlights include:

• Vacancy and rent concession rates were above the 7 year average in 2016 and 2017
• The median home price rose 58% between 2011 and 2017
• Racial diversity in the city is increasing in almost every neighborhood except MLK-Alberta, the Interstate Corridor, and St. Johns
• Central City, MLK-Alberta, and Lents-Foster were the fastest growing neighborhoods between 2011 and 2016
• Northwest, the Central City, and South Portland-Marquam Hill saw the highest level of household growth
• Portland added 7,300 new housing units in 2017 - 91% were in multifamily buildings

The report also includes information on what neighborhoods are affordable to residents based on race, family size, and income levels. Read more.