GITNUX MARKETDATA REPORT 2024

Statistics About The Average Rent In Portland

The average rent in Portland is $1,536 per month.

Last Updated: June 23, 2024

How we write

In this post, we will explore the average rent in Portland, providing a comprehensive overview of the current rental market trends in the city. With statistics ranging from expected annual rent price increases to specific neighborhood averages, you’ll gain valuable insights into the nuances of renting in Portland. Whether you’re a prospective tenant, a current resident, or simply curious about the city’s rental landscape, this blog post will offer key data points to inform your understanding of Portland’s housing market.

Statistic 1

"Rent prices in Portland are expected to continue to rise by about 3-4% annually."

Statistic 2

"Portland's Pearl District has some of the highest average rents, around $2,400 for a one-bedroom apartment."

Statistic 3

"Short-term rental prices in Portland average about $150 per night for a single bedroom."

Statistic 4

"Portland has seen a 15% increase in average rent prices over the past five years."

Statistic 5

"Southeast Portland has an average rent of $1,750 for a two-bedroom apartment."

Statistic 6

"The average rent in Portland suburbs is typically 20% lower than within the city itself."

Statistic 7

"The average rent for a single-family home in Portland is approximately $2,800 per month."

Statistic 8

"With a growing tech industry, Portland's rent prices have been rising steadily each year."

Statistic 9

"In 2022, Portland saw a 5% year-over-year increase in average rent prices."

Statistic 10

"The average rent for luxury apartments in Portland is around $2,500 per month."

Statistic 11

"The average rent for a one-bedroom apartment in Portland is approximately $1,500 per month."

Statistic 12

"The average time an apartment stays on the market in Portland is around 25 days."

Statistic 13

"The national average rent is around $1,670, meaning Portland's average rent is roughly 10% higher than the national average."

Statistic 14

"The average rent for a three-bedroom house in Portland is around $2,600."

Statistic 15

"Portland’s rental market is currently rated as favoring landlords, with high demand and limited supply."

Statistic 16

"The vacancy rate in Portland is currently around 4.5%, slightly lower than the national average."

Statistic 17

"Portland's downtown area has the highest average rent, nearing $2,200 for a one-bedroom apartment."

Statistic 18

"North Portland neighborhoods have seen a 7% increase in rent prices over the past year."

Statistic 19

"The average rent for studio apartments in Portland is about $1,200 per month."

Statistic 20

"The average rent for a two-bedroom apartment in Portland is about $1,800 per month."

In conclusion, the statistics suggest a consistent upward trend in rent prices in Portland, driven by factors such as increasing demand from a growing tech industry and limited housing supply. The data highlights significant variations in average rents across different neighborhoods in the city, with areas like the Pearl District commanding higher prices compared to suburbs or North Portland. Portland’s rental market appears to be competitive, with shorter-than-average time on the market and a low vacancy rate. Overall, while Portland’s average rent surpasses the national average by 10%, the city’s rental landscape continues to evolve, posing challenges for renters amidst a landlord-favoring market.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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