PORTLAND, Ore — Vacancy rates in the Portland metro and suburban areas have decreased since spring of 2024 and industry experts expect rents will likely start to increase as a result.
According to a spring housing report from Multifamily Northwest (MFNW), the vacancy rate in the Portland metro dropped from 6.17% in the spring of 2024 to 5.91% and rent averages have increased by one cent per square foot so far across the metro. The report, which collects data by surveying 605 properties representing 43,295 units, is published twice annually.
Vacancy rates decreased significantly in Hillsboro (from 5.82% to 4.92%) and in Northwest Portland (from 8.7% to 7.01%). In Eugene/Springfield the vacancy rate is only 3.56%…