Portland Multifamily Valuations Recovering [8/27/26]
August 27, 2026
HFO Investment Real Estate

Portland Multifamily Valuations Recovering [8/27/26]

HFO Investment Real Estate co-founder Greg Frick spoke with Chuck Slothower of the Daily Journal of Commerce for an August 27 story on the Portland-area multifamily market. The report found Portland multifamily valuations recovering. Recently, valuations have stopped falling, with CoStar’s pricing index projecting a 0.4 percent gain in 2026 after a flat 2025. Renters absorbed more units than were delivered over the past year, and vacancy fell to 7 percent.

Frick pointed to a thinning construction pipeline as a signal for what comes next. Sixteen of 25 Portland-area submarkets currently have no units under construction. “The economics are not there yet for new construction right now, but if you wait until everything lines up, you’re going to be late when you get there,” Frick said.

Writing on LinkedIn, Frick added that the market “appears to have stopped repricing downward, and buyers and sellers are selectively finding each other again,” noting that investment activity is “not back to a fully recovered market, but the direction is improving.”

Read the full DJC article →

HFO Investment Real Estate is the largest multifamily-only brokerage in the Pacific Northwest, with 12 brokers focused exclusively on apartment investment sales in Oregon and Washington. Call (503) 241-5541

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