PORTLAND, Ore. – There’s no denying that we have a housing emergency in Portland Oregon, thanks in large part to the fact that we have more people relocating to Portland than ever before while the supply of housing has not increased much over the last 12 months.
This month the City of Portland finally declared a housing emergency, and one of their new rules is that landlords must give tenants a notice of at least 90-day notice before the raise the rent on a tenant but this new rule doesn’t go into effect until November 13th.
Are Some Landlords “Gaming” The System?
In a recent interview, Dan Saltzman, Commissioner with the Housing Bureau said that he thought the 30 day notice seemed fair but, the big question is with Portland’s red-hot housing market some analysts are concerned that landlords could see the 30 day window as their opportunity to increase rents now; Saltzman admitted that there definitely is some room for landlords to “game the system”.
What Is The Average Portland Oregon Rent Right Now?
Across Portland rents are ranging from $3,800 per month for a 3 bedroom / 2 bathroom home of SW Canby Street to $4,495 per month for a 5 bedroom, 3 bathroom home off SE 2nd Avenue.
There still are plenty of townhomes available in the $1,025 per month range but those rentals are becoming few and far between as rents are quickly going up across Portland while incomes are not increasing.
What’s interesting about the housing crisis in Portland is that it’s still more affordable to live in Portland compared to other towns like Beaverton where it’s getting difficult to find even a 2 bedroom / 1 bathroom apartment for less than $1,000 anymore.
How much are you renting your home for in Portland?
If you would like more information on how much your home should rent for, the Portland rental market and Portland Property Management go to RentPortlandHomes.com.