Portland apartments hard to come by

Rising demand, low vacancy level and very little new construction means apartments are getting harder to come by in Portland.

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Rising demand, low vacancy level and very little new construction means apartments are getting harder to come by in Portland.

Near the city center, the most popular market, the vacancy rate is approaching 3 percent. Capital Property Management Services Inc., which manages small, close-in apartment buildings, usually takes only five days to rent out an apartment. In July 2009, the company averaged 13 1/2 days, owner Maureen MacNabb said. 

“It’s been a very, very aggressive market,” she said. 

Other Portland markets are strong, too. Cliff Hockley, executive director of Bluestone & Hockley, said leasing agents recently received 23 calls on one apartment in Sellwood.

Read more at OregonLive.com.

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