At this morning's Multifamily NW spring apartment report breakfast, it was announced that:
- Rental vacancy rates in Greater Portland increased 55 basis points to 4.95%--but remaining relatively unchanged from one year earlier.
- Rent rates increased 4% in the past six months and were up 7.7% on average from one year ago.
- Note that these rent rates do not represent "effective" rent rates due to the offering of concessions, which are becoming more prevalent in the market.
Submarket rent rates were reported as follows:
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