First Quarter Year-Over-Year Occupancy, Recovering Rents and Rent Growth for Seattle, Portland

The commercial real estate firm YardiMatrix has reported on vacancy trends and rental growth for Seattle and Portland in its latest report.

According to the company's research:

Year-Over-Year Occupancy Change (March 2020-2021)
Seattle: -7.6%
Portland:  -0.1%

Quarter that occupancy recovers to March, 2020 level
Seattle: 4th Qarter 2024
Portland: RECOVERED

Rent recovery quarter to Q1 2020 levels
Seattle: Q1 2023
Portland: RECOVERED

Forecast rent growth 2021-2023
Seattle: 10%
Portland: 9%

Cumulative rent growth 2021-2025
Seattle: 16.4%
Portland: 15.4%