It takes significant time and energy to understand a new city and
navigate the many neighborhoods that one could potentially call
home. Many new Portlanders will opt for an apartment when
they first relocate, giving them time to explore the variety of
options before committing themselves to home ownership.
Others will find that renting works out
just fine for them. Rent in Portland, even
in the most desirable neighborhoods, is
relatively affordable compared to many
big cities. Renting gives Portlanders a
little more flexibility in which neighborhood they choose, as well as the freedom
to move elsewhere, should their neighborhood preferences change.
The Portland area is changing quickly, and
you’re sure to discover more and more to
love about living here. For those opting
for apartment living, you’ll find the search
for your first Portland apartment to be an
exciting adventure into what makes our
neighborhoods and our city so special.
THE APARTMENT MARKET
Everyone is moving to Portland. That’s a
slight exaggeration, of course. But not by
much. A migration study released by Atlas
Van Lines in 2017 reported that Oregon
ranks 2nd in the country for percentage
of inbound moves. Word of Oregon’s
impressive livability is spreading across the
country. The mild temperatures, stunning
natural surroundings, and the craft food
and beverage scene are calling many. And
for many of those newcomers, Portland is
the Oregon city of choice.
A surge in Portland residents means that
apartment prices have been going up for
years. But this year for the first time in 6
years, thanks to an influx of new apartment
buildings, the average rent in Portland actually decreased by 3.17%, to $1,609.
On the upside, Portland still offers affordable options compared to bigger cities like
New York City and San Francisco, with
comparable offerings in urban amenities,
from museums to top-rated restaurants.
Those who are looking for an exciting,
up-and-coming city that doesn’t require
celebrity wealth or multiple side jobs, will
find just that in Portland.
You’ll find more affordable rental options
as you move away from the city center,
especially in the far east side and North