Jumping a spot this month, Portland outpaced Philadelphia to become the 15th most expensive rental market in the nation. The price of one bedroom units increased 2.9% to a median of $1,400, while two bedroom units jumped 3.8% to $1,660. Since this time last year, prices for two bedroom units are up over 7%.
Reaching the $2,200 threshold, Pearl was the most expensive neighborhood to rent this summer. The next priciest areas, ranging between $1,500-$1,700, were Downtown Portland, Old Town – Chinatown, and Southwest Hills. The most affordable Portland neighborhoods, all priced under $1,000, included Foster – Powell, Bridlemile, and Cully.
To see how Portland compares with the rest of the United States and to view the full rental data for the top 100 cities, check out our National Rent Report for August.
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