Rental Housing Journal: Strong Multifamily Performance Will Continue Through 2021 in Portland Metro

 

The Rental Housing journal reports on some recent forecasting by Yardi Matrix which indicates that strong multifamily performance will continue throughout the rest of 2021. 

In their summer report entitled "Multifamily Emerges Strong from the Pandemic" Yardi-Matrix says while rent growth experienced in 2021 can't continue indefinitely, conditions for growth, rents may increase by almost double digits in many markets on a year-over-year basis. The cities of Phoenix, Las Vegas, Atlanta, and Tampa are experiencing significant rent growth due to in-migration while longtime residents are most impacted by the accelerating rent growth. Read more. 

The report indicates rent growth for Portland metro for June year-over-year is 7.8% and Seattle is 0.9%. A prior report forecast rent growth for 2021 year-end at 5.2% for Portland and 1.9% for Seattle.

Click here to fill out a form to download the report.