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.
Average Apartment Rent in June 2022
Y-o-Y Change in Average
Compared to a year ago, Portland, Oregon apartments have recorded a 11.5% rent increase.
Portland, Oregon |Average apartment rent trend
Portland, Oregon| Average apartment rent
Portland, Oregon | Apartment rent ranges
At 40.33%, 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 – 0.11%.
Portland, Oregon | Housing tenure**
Renters take up 47% of Portland, Oregon real estate, occupying a total of 129,967 units, while homeowners live in 147,175 properties.
Median number of rooms of renter-occupied housing units**
Renter median household income**
Average household size of renter-occupied housing units**
Rental vacancy rate**
Portland, Oregon | Renter-occupied housing units by no. of bedrooms**
There are 44,331 rentals in Portland, Oregon with 2 beds making up the highest share of the market, at 34%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 1,629 units. Overall, the median number of rooms in Portland, Oregon homes for rent is 3.6.
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 (22%). 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 43,570 apartments for rent in Portland, Oregon, or 34% of all rentals are family households. Additionally, 17% of rental homes include children under the age of 18 – that’s 21,662 units. All in all, the median size of a renter-occupied household in Portland, Oregon is 2.03.
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 20% or 26,274 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (14%, 18,822 units), and the ones Built 1990 - 1999 (11%, 13,877 units).
Portland, Oregon | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most Portland, Oregon renters (52%) moved in 2015 to 2016, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Portland, Oregon condos for rent is 2016.
Portland, Oregon | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of Portland, Oregon renters have 1 vehicle available per household, 26% of them have No vehicle available, and 21% 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, 2020 American Community Survey 5-Year Estimates