Climbing 3 spots this month, now ahead of Philadelphia, Long Beach and Minneapolis, Portland started off the new year as the 16th most expensive rental market in the nation. The price of one bedroom units grew 1.5% to a median of $1,370, while two bedroom units jumped 2.5% to $1,640.
Up $40 from last quarter, Pearl ($2,190) was the most expensive neighborhood to rent this winter. Corbet – Terwilliger – Lair Hill ($1,675) was the next priciest area to rent, followed by Old Town – Chinatown ($1,650) and Hillside ($1,575). The least expensive areas were Hayhurst ($975), Bridlemile ($1,000), and Creston – Kenilworth ($1,025).
Hillside and Humboldt had the fastest growing rents this winter, both up over 12% since last quarter.
To see how Portland rents compare with the rest of the nation’s, check out our National Rent Report for January.
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