Coming ahead of Atlanta, Dallas, and Scottsdale, Portland ranked as the 19th most expensive rental market in the nation. The price of one bedroom units decreased 1.5% to a median of $1,340, while two bedrooms grew a slight 0.6% to $1,600.
Although down $100 from last quarter, Pearl ($2,090) still continued to reign as the most expensive neighborhood to rent this spring. Corbet – Terwilliger – Lair Hill ($1,600), Old Town – Chinatown ($1,550), and Downtown Portland ($1,525) were the next priciest areas. More affordable rentals priced at less than $1,250 could be found in Brooklyn, Grant Park, and Humboldt.
Creston – Kenilworth and Bridlemile had the fastest growing rents this quarter, up 12 % and 10%, respectively.
To see how Portland rents compare with the rest of the nation’s, check out our National Rent Report for April.
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