Portland ranked as the 20th most expensive city to rent in the country. The price of one bedroom units remained flat at $1,330, while two bedrooms grew 1.3% to $1,560. On a year over year basis, two bedroom rent is down nearly 5%.
While University Park and Bridlemile had the fastest growing rents this quarter, both up around 14%, Reed and Brooklyn Action Corps saw some of the biggest rent dips, down over 15%.
The most expensive neighborhoods this winter were Pearl ($1,900), Arlington Heights ($1,870), and Hillside ($1,750). The next priciest areas, ranging between $1,500 – $1,600, included Old Town – Chinatown, Hayden Island, and South Portland or Corbet Terwilliger Lair Hill. Meanwhile, much more affordable rentals for less than $1,000 could be found in Mill Park, Parkrose Heights, and West Portland Park.
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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