Portland, Oregon Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Portland, Oregon rental market.
Portland, Oregon
Average Apartment Rent
$1,764
Y-o-Y Change in Average
Apartment Rent
2.1%
As of November 2024
Compared to a year ago, Portland, Oregon apartments have recorded a 2.1% rent increase.
Portland, Oregon Average apartment rent trend
Portland, Oregon Average Apartment Rent
Portland, Oregon Apartment rent ranges
At 40.86%, apartments priced $1,500 - $2,000 represent the bulk of Portland, Oregon rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.06%.
Portland, Oregon Housing tenure**
Renters take up 47% of Portland, Oregon real estate, occupying a total of 132,612 units, while homeowners live in 151,284 properties.
Median number of rooms of renter-occupied housing units**
3.5
Renter median household income**
$57,489
Average household size of renter-occupied housing units**
1.93
Rental vacancy rate**
4.7%
Portland, Oregon Renter-occupied housing units by no. of bedrooms**
There are 44,097 rentals in Portland, Oregon with 2 beds making up the highest share of the market, at 33%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 1,209 units. Overall, the median number of rooms in Portland, Oregon homes for rent is 3.5.
Portland, Oregon Renter-occupied units by age of householder**
Most condos for rent in Portland, Oregon are occupied by residents in the 25 - 34 years age group (34%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Portland, Oregon Renter-occupied housing units by family type**
Portland, Oregon Renter-occupied housing units by the presence of own children**
A total of 40,417 apartments for rent in Portland, Oregon, or 30% of all rentals are family households. Additionally, 14% of rental homes include children under the age of 18 – that’s 19,122 units. All in all, the median size of a renter-occupied household in Portland, Oregon is 1.93.
Portland, Oregon Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 47% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Portland, Oregon.
Portland, Oregon Renter-occupied units by year structure built**
The highest share of Portland, Oregon apartment rentals, namely 19% or 25,845 units, were Built 1939 or earlier, followed by those Built 2010 - 2019 (15%, 20,333 units), and the ones Built 1970 - 1979 (14%, 18,685 units).
Portland, Oregon Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Portland, Oregon renters (41%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Portland, Oregon condos for rent is 2018.
Portland, Oregon Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of Portland, Oregon renters have 1 vehicle available per household, 25% of them have No vehicle available, and 20% have 2 vehicles available.
Portland, Oregon Means of transportation to work of householders living in renter-occupied housing units**
Portland, Oregon Geographical mobility in the past year for householders living in renter-occupied housing units**
Portland, Oregon Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Portland, Oregon apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
