A large-scale survey of landlords and housing operators in Oregon showed a mixed picture for the multifamily market, with average rents rising across the state despite a modest increase in vacancies.
In Brief:
- Oregon multifamily rents rose 3 percent to $2.11 per square foot.
- Portland-Vancouver vacancy rate climbed to 5.47 percent.
- Multifamily sales jumped 55 percent to $1.53 billion year-over-year.
- Construction pipeline hit lowest level since 2011.
Rents rose 3 percent from a year ago to $2.11 per square foot. The vacancy rate in the Portland and Vancouver metro area grew to 5.47 percent, up from 4.49 percent a year ago.
The data comes from Multifamily NW’s biannual Apartment Report. The organization surveys 460 properties totaling 42,000 units…