Portland rents have increased 1.7 percent over the past month, and are now up 2.5 percent year-over-year, according to the June report from Apartment List.
Now, median rents in Portland are $1,197 for a one-bedroom apartment and $1,396 for a two-bedroom.
These increases are part of the fifth straight month that the city has seen rent increases. The last decline in rents came in January.
However, Portland’s year-over-year rent growth lags the state average of 7.3 percent, as well as the national average of 8.4 percent.
Rents Rising in All Major Cities Across Portland Metro
Of the 10 largest cities in the Portland metro for which Apartment List has data, all have seen prices rise. Oregon as a whole logged rent growth of 7.3 percent over the past year.
Here’s a look at how rents compare across some of the largest cities in the metro.
- Lake Oswego is the most expensive of all Portland metro’s major cities, with a median two-bedroom rent of $2,068.
- Hillsboro rents have increased 4.4 percent over the past month, and have increased sharply by 16.9 percent in comparison to the same time last year. Currently, median rents in Hillsboro are at $1,585 for a one-bedroom apartment and $1,740 for a two-bedroom.
- Beaverton rents have increased 2.4 percent over the past month, and have increased sharply by 11.0 percent in comparison to the same time last year. Currently, median rents in Beaverton stand at $1,409 for a one-bedroom apartment and $1,710 for a two-bedroom.
- Vancouver rents have increased 2.0 percent over the past month, and have increased sharply by 15.4 percent in comparison to the same time last year. Currently, median rents in Vancouver stand at $1,298 for a one-bedroom apartment and $1,533 for a two-bedroom.
Across the state rent increases:
- Bend had the fastest growth in Oregon up 31.5 percent.
- Eugene rents have increased 1.6 percent over the past month, and have increased sharply by 8.5 percent in comparison to the same time last year.
