Wednesday, August 1, 2018

July 2018 Apartment List Data: City of Portland 2BR Median Rents Down 2.6% Since July 2017; 4 Year Increase 6.2%/$78 a Month.

Apartmentlist has published their updated apartment median rent data for July 2018 HERE.

Their methodology for rent calculations is HERE

According to their data in the City of Portland the July 2018 median 2 BR rent ($1,330) went up .7% from June 2018 ($1,321), but that is down 2.6% from July of 2017 ($1,365). 

I prepared the table pasted below showing YtoY rent changes for several Oregon cities, including multiple cities in the Portland metro area. 

Average City of Portland Monthly 2 Bedroom Median Rent Increased by $78/6.2 % in 4 Years ; That Was the Lowest Increase of Any Portland Metro City Reported. 
In the table below you will also see columns showing 2 BR $ and % changes from July 2014 to July 2018. 

For the City of Portland the estimated total 4 year July to July increase in the median 2 BR monthly rent was $78 /6.2% (from $1,252 to $1,330). 

That is the lowest increase of any city with data in the Portland metro area; Hillsboro and Tualatin both saw $600+/40%+ 2 BR median rent increases in the same time period. 

The City of Portland July 2018 median 2 BR rent ($1,330) is also the lowest reported in the Portland metro area. 

City of Portland vs City of Seattle
The 4 year City of Seattle 2 BR median monthly rent increase from July 2014 to July 2018 was $248 /17.5% (from $1,417 to $1,665) substantially more than the $78/6.2% reported for the City of Portland.
The City of Seattle 2BR median rent decreased by 2.3% in the last 12 months, less than the 2.6% reported decrease for the City of Portland. 

Originally created and posted on the Oregon Housing Blog

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