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. For the third year in a row, according to
the 2015 United Van Lines National Movers
Study, Oregon is the number one destination
for people who are relocating. 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 are going up. Over the past
five years, the average rental price has risen
roughly 20%, making it the 6th fastest rising
rent in the country.
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.
The average rental price of a one-bedroom
within Portland is $1,323. The average
two-bedroom is going for $1,470. You’ll find
more affordable rental options as you move
away from the city center, especially in the
far east side and North Portland.
Exceedingly low vacancy rates are making the
competition for properties a fierce one. It’s not
uncommon for landlords to rent out apartment units, sight unseen, to potential tenants
who are anxious to jump on appealing options
in their neighborhoods of choice.
The prevalence of craftsman style bungalows
in Portland means that many apartments
are in houses, and many Portland residents enjoy the affordability and amenities
of sharing a house over an apartment.
Houses are an obvious choice for families,
but singles can also find apartment options
in houses. Whether you’re looking to rent
your own, or split one with roommates, the
houses for rent in Portland are attractive
alternatives to apartments — giving you the
cozy comfort of a home (often with a yard!)
within the confines of a city.
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.