September Report from “Portland Rents Continue Upward Trend for Third Straight Month”

By October 9, 2019April 13th, 2021blog, Portland Apartment News reports that Portland rents have increased for the third straight month, also published in the Rental Housing Journal:

Portland rents rose again in September and continued the upward trend seen for the past three months, according to the September report from Apartment List. The last decline was in June.

Median rents in Portland stand at $1,142 for a one-bedroom apartment and $1,347 for a two-bedroom, according to the report.

Despite the recent months’ increases, overall Portland’s year-over-year rent growth lags the state average of 1.1 percent, as well as the national average of 1.4 percent.

CONCLUSION: Landlords anecdottally are reporting they “have to” raise rents now due to the rent control measures in place, and the report from apartment list is consistent with those reports.  It is no surprise that rent control has effects on the rental market, including a “non intended” side effect of rents actually going up.

Bernard Gehret

Bernard Gehret

Joseph Bernard Investment Real Estate