Portland Oregon Rental News
As of January 2015 the average monthly rent for the Portland Oregon Rental Market was $1,324 (Rent Jungle).
This is of about a $200 per month increase from January 2014, and rents are only predicted to continue increasing for 2015, as more renters, especially millennials, are searching for rentals in the Portland area.
Local Market Statistics
Besides the influx of millennials to the Portland Oregon Rental Market, Portland has also seen huge migration from California as well, and 2015 is predicted to be another busy year for property owners as more people will be looking for homes, condos and townhomes for rent in Portland.
Thanks to recent data from industry experts like: RealtyTrac and the U.S. Department for Housing and Urban Development we know that most renters are expected to spend close to 30 percent of their monthly incomes, or more, on rent.
Tight Rental Market Predicted
Compared to cities like San Francisco, New Orleans and St. Louis, Portland is still an affordable area for renters, but that could change as rental market supply hasn’t exactly kept up with demand and this means we may see higher rents in Portland by this summer.
Outside of Portland though there are still plenty of fair market rentals to be found, especially in Douglas County and Roseburg, but, rents there have increased by 10% as well, so it’s looking like 2015 is going to be another great year for property owners across Portland and Oregon as a whole.
Get More Portland Oregon Rental Market News
For more information on the Portland Oregon Rental Market, or to speak with our team about renting your property, contact us today by calling: Property Management Systems (503) 515-3170.