RentCafe December Rent Report Finds Strong Rent Gains along I-5 Corridor in Oregon

RentCafe released its year end rent report for Oregon, which highlights the change in rents during the month of December. Eugene, Salem, and Albany saw the highest rent increases month over month – while Eugene rents increased 1.2%, Salem and Albany’s increased by 1%. Bend also saw strong rent increases, at 0.8%, and Oregon City saw the highest rent increases in the Portland metro area at 0.4%. A large number of Oregon cities saw rents decrease in December – Hillsboro had the largest rent decrease at 0.5%. Gresham, Happy Valley, Lake Oswego, Milwaukie, Portland, and Tualatin all saw rent decreases of 0.3%. Despite the slight decrease in rents, Lake Oswego remains the most expensive city in the state for renters – the average rent there is $1,680. Year over year, Portland rents increased by 3.3%, bringing the average rent in the city to $1,535. Tualatin saw the highest yearly increase in rents at 6.8%. Nationwide, rents were up 3% in 2019 but ticked down 0.1% in December. Read more.