The Portland area apartment market is extremely tight with a vacancy of only about 3%.
That translates into higher demand. There is an apartment building boom going on right now, but it’s still not enough to meet what's currently needed in the Portland Metro area.
Experts explain that on average, it takes 4,000 new units a year to meet demand in the Portland Metro area.
There are some 5,300 units under construction, but they won't be ready until later this year and into the next.
Read more at KGW.