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Portland rents continue to rise

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Thursday, October 18, 2012

Portland rents have risen 6.2% in the past year, even as thousands of new metro-area apartments are in the works.

The apartment building boom rests on growing post-recession demand. Former homeowners who lost their home in foreclosure are now renting, and people who had moved in together to save money are now moving out on their own, filling more apartments.

Studio apartments, in particular, are growing in popularity. As a result, the average rent for studios has grown 30 percent in two years, far faster than other apartment types.

Read more at OregonLive.com.

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