Good News Still Flowing in Spring 2014 MultifamilyNW Report

Despite a recent increase in vacancies, the latest MultifamilyNW Apartment Report indicates
apartment are seeing an increase in net operating incomes. The Portland metro
area experienced over 5 percent growth in rents while operating expenses
increased just over 2 percent.

The Spring 2014
Multifamily NW Report indicated an increase in vacancy from 3.11 to 3.46%.  The spring 2013 report listed overall vacancy at 3.55%. 

Average market rents have increased from the spring 2013 MultifamilyNW Apartment Report to the spring
2014 report by over 11%. (Click on the image to enlarge.)

• Only 7% of all properties are offering rental incentives
• Average number of days vacant is 35
• Median per unit expenses have increased for all property types by 2.2% over the past year from $4,251 to $4,346 per unit
• Property taxes average $870 per unit ($1.07 sq. ft.)
• Insurance costs average $165 per unit ($0.22 sq. ft.)
• Water and sewer averages $550 per unit ($0.76 sq. ft.)

Today’s keynote speaker was Robert Ball of Astor Pacific.

Download the full report. 

HFO Investment Real Estate specializes in multifamily brokerage sales and advisory services for commercial real estate investors and apartment owners throughout Oregon and Washington. Build your legacy at http://www.hfore.com