The median rent in Portland fell by 0.9% over the course of October, and has now decreased by a total of 5.9% over the past 12 months, Apartment List says in the November report.
Citywide, the median rent currently is $1,211 for a 1-bedroom apartment and $1,414 for a 2-bedroom. Across all bedroom sizes (i.e., the entire rental market), the median rent is $1,346. That ranks No. 60 in the nation among the country’s 100 largest cities.
Also, Portland rents are 10.8% lower than the metro-wide median.
Across the metro outside the city of Portland, the median rent is $1,509. Metro-wide annual rent growth stands at -5.2%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for nine cities in the Portland metro area that are included in the Apartment List database.
Among them, Lake Oswego is currently the most expensive, with a median rent of $2,009. Portland is the metro’s most affordable city, with a median rent of $1,346. The metro’s fastest annual rent growth is occurring in Gresham (-2.0%) while the slowest is in Beaverton (-8.0%).
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