The median Portland June rent rose by 0.5% over the course of June, according to the July report from Apartment List, and is now $1,556 per month.
While the recent rent increases are encouraging, Portland rents have still decreased by a total of 0.8% over the past 12 months.
Portland rent growth in 2026 pacing similar last year
Six months into the year, rents in Portland have risen 3.1%. This is a similar rate of growth compared to what the city was experiencing at this point last year from January to June 2025 when rents increased 3.0%.
Overall, Portland is the #38 most expensive large city in the U.S.
Portland rents are 5.9% lower than the metro-wide median
Across the Portland metro area, the median rent is $1,654 meaning that the median price in Portland proper ($1,556) is 5.9% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at -1.4%, below the rate of rent growth within just the city.
The table below shows the latest rent stats for 9 cities in the Portland metro area that are included in our database. Among them, Lake Oswego is currently the most expensive, with a median rent of $2,008. Gresham is the metro’s most affordable city, with a median rent of $1,514. The metro’s fastest annual rent growth is occurring in Tualatin (1.5%) while the slowest is in Hillsboro (-5.9%).
