Portland in top 10 cities for rising rents

Portland in top 10 cities for rising rents

Portland ranks in the top 10 cities in the United States where rent is expected to rise most in 2013.

Rent in Portland in 2012 averaged $848, a nearly five percent increase from the previous year and expected to rise an additional 4.7 percent in 2013. The vacancy rate in 2012 was about 3.3 percent.

You might think rent is going up because of people who lost their homes in foreclosures. But experts Monday said while there is still a little of that, some people now prefer to rent instead of own and that is affecting supply and demand.

Read more at KGW.

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