Rent in Portland rises for the fifth straight month, Apartment List says

Portland rent increased 0.2 percent from June to July. Graph from Apartment List

PORTLAND, Ore. – Rent in Portland is on the rise, both in the past month and compared to a year ago, according to Apartment List.

Over the past month, Apartment List says rents in Portland have increased 0.2 percent. Year-over-year, they increased 1.3 percent.

They say their national rent index has increased 0.4 percent over the past month and is up 2.9 percent year-over-year.

Compared to other cities around the country, Portland’s median rent prices are less affordable, the rental marketplace says.

Currently, the median rents in Portland stand at $1,160 for a one-bedroom apartment and $1,370 for a two-bedroom apartment, the report says.

Comparatively, the average rent for two bedroom apartments in Seattle is $1,710, Phoenix is $1,020, and Los Angeles is $1730.

This is the fifth straight month Portland has seen an increase in rent prices. The last time it declined was February, Apartment List says.