Vacancy Rates in Portland are Below 5% Average (Survey from the MMHA newsletter)
More top trends in Portland, Oregon multifamily trends are decreased vacancy, increased rents, and buyer's location, with buyers of apartments primarily originating from Oregon. As you can see from the above graph, vacancy rates continue to decrease to a 3.63% average.
Portland, Oregon Rents Appear to Be Increasing (Survey from the MMHA newsletter)
Rents for two bedroom
units in Portland jumped 4.85% after being flat for three previous years, suggesting that many
landlords in Portland are finally feeling comfortable raising previously low rents. Much of this increase may be due to landlords increasing long term tenants' rent that were below market (vs. increasing turnover rents).
Apartment Investors Are Local
Which Indicates a Balanced Market
On the transactions below 100 units, nearly 75% of all buyers are from Oregon, with approximately 10% from California. This suggests a “balanced” market, with sellers offering fair market prices to buyers. Rather, buyers are purchasing properties based on the fundamentals of the investment rather than speculation that occurred in the past with a larger amount of California buyers.
