Portland Market Update
The Portland area apartment market remains strong, but some of the things, which have been predicted, are finally coming about. After years of record rent growth and very low vacancy, the impact of the new construction is having an impact, particularly for upper end close-in units.
Also, in February the Portland City Council is expected to vote on lifting in Portland the statewide ban on rent control.
Although it is still a good time to be an apartment owner, and vacancy is low by historical standards, we are beginning to see a gradual normalizing of market conditions.
For those of you who are out of state, we hope you are enjoying a more pleasant winter than we are having here! This is one of the worst Portland winters on record.
Link to United Vanlines 2016 Movers Study: https://www.unitedvanlines.com/contact-united/news/movers-study-2016Luxury Apartment Boom Looks Set to Fizzle in 2017 - WSJ
2016 uvl movers study data final