By Fred Marlow
Thanks to recent data from the National Association of Realtor’s (NAR), and oregonlive.com, we know that Portland Oregon Rents have risen by over 20 percent across Portland over the last five years.
Why Are Portland Rents Increasing?
Why have rents increased across Portland so rapidly? Many experts feel that it’s due to the increased demand for rental property after the recent housing crash, plus lack of new affordable rental housing construction across Portland that’s caused rents to increase.
The Trend Will Continue
Whatever experts you believe one thing is for certain, Portland is a great city to own rental property right now and it looks like rents here are only going to continue increasing over the next 12 months.
Incomes Keeping Up With Rental Increase?
One of the many positive statistics from the recent report from the National Association of Realtor’s is that incomes have increased with Portland Oregon Rents for people aged 25 to 44 years old and this is encouraging news considering that in most other major cities incomes do not rise along with rents.
Time to Buy Is Now
Did you know that the average monthly Portland Oregon Rent according to Zillow is $1,587?
In the last 12 months Portland has seen the 6th fastest rent increase in the nation along with other major cities including Seattle-Tacoma, San Jose, Denver and New York.
If you’ve been thinking about buying rental property in Portland don’t let another week go by wasting your opportunity to be a part of this current rental market.
Learn More About Portland Oregon Rents
To learn more about the Portland Oregon Rental market, or to speak with us about our property management services, contact Property Management Systems today by calling (503) 515-3170 or click here to contact me through my website.