State of Housing in Portland: 2018 Report
The City of Portland released its State of Housing in Portland report for 2018 today, which shows that average rent growth in the city was just 2% in the second quarter of 2018, down from an average rate of 8-9% in 2015. Additional report highlights include:
- Vacancy and rent concession rates were above the 7 year average in 2016 and 2017
- The median home price rose 58% between 2011 and 2017
- Racial diversity in the city is increasing in almost every neighborhood except MLK-Alberta, the Interstate Corridor, and St. Johns
- Central City, MLK-Alberta, and Lents-Foster were the fastest growing neighborhoods between 2011 and 2016
- Northwest, the Central City, and South Portland-Marquam Hill saw the highest level of household growth
- Portland added 7,300 new housing units in 2017 – 91% were in multifamily buildings
The report also includes information on what neighborhoods are affordable to residents based on race, family size, and income levels. Read more.
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