{"id":8526,"date":"2024-11-04T09:11:00","date_gmt":"2024-11-04T09:11:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8526"},"modified":"2025-03-18T12:30:35","modified_gmt":"2025-03-18T12:30:35","slug":"portland-multifamily-market-report-october-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/portland-multifamily-market-report-october-2024\/","title":{"rendered":"Portland Multifamily Market Report \u2013 October 2024"},"content":{"rendered":"\n<p class=\"has-normal-font-size\">Read the latest Yardi Matrix <strong><a href=\"\/blog\/portland-multifamily-market-report\/\">Portland Multifamily Market Report<\/a><\/strong>.<\/p>\n\n\n<hr \/>\n<h2>Economy Slips, Rents Still Rise<\/h2>\n<p>Despite economic challenges impacting certain areas of Portland\u2019s multifamily sector, the market has largely maintained its stability, as per the latest Yardi Matrix Portland multifamily market report. Advertised asking rents were up 0.4% on a trailing three-month basis, to $1,775, some 30 basis points above the U.S. rate, as noted in the <a href=\"\/blog\/national-multifamily-market-report\/\" rel=\"\"><strong>national multifamily report<\/strong><\/a>. 0The metro\u2019s average occupancy rate in stabilized properties stood at 95.0%, as of June. That marked a 20-basis-point increase over 12 months, a rare feat for a multifamily market in 2024.<\/p>\n<p><iframe id=\"datawrapper-chart-0shdT\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Portland vs. National Rent Growth \" src=\"https:\/\/datawrapper.dwcdn.net\/0shdT\/2\/\" height=\"328\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>Portland\u2019s unemployment rate clocked in at 4.1% as of August, 10 basis points below the national figure, according to preliminary data from the Bureau of Labor Statistics. The metro lost 17,800 net jobs in the 12 months ending in June. The only sectors to re\u0002cord gains were education and health services and government, for a combined 9,600 jobs added. The local economy could benefit from the large-scale water plant construction that started in June, about 20 miles from downtown Portland. The $2.1 billion project is a partnership between MWH Constructors and Kiewit Corp. and is slated for delivery in 2027.<\/p>\n<p><iframe id=\"datawrapper-chart-wY34E\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Portland Employment Share by Sector \" src=\"https:\/\/datawrapper.dwcdn.net\/wY34E\/1\/\" height=\"417\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Table\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",(function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r=0;r<e.length;r++)if(e[r].contentWindow===a.source){var i=a.data[\"datawrapper-height\"][t]+\"px\";e[r].style.height=i}}}))}();\n<\/script><\/p>\n<p>With 5,147 units, or 2.8% of existing stock, delivered through August in Portland, the metro outpaced the nation by 110 basis points. Meanwhile, transaction activity remained moderate, with $404 million in assets changing hands. For comparison, the metro recorded an average of $1.7 billion in deals over the past 10 years.<\/p>\n<p>Read the full Yardi Matrix Portland Multifamily Market Report: <a href=\"https:\/\/www.yardimatrix.com\/publications\/download\/file\/6363-MatrixMultifamilyPortlandReport-Octorber2024\" rel=\"\"><strong>October 2024<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Economy Slips, Rents Still Rise Despite economic challenges impacting certain areas of Portland\u2019s multifamily sector, the market has largely maintained its stability, as per the latest Yardi Matrix Portland multifamily market report. Advertised asking rents were up 0.4% on a trailing three-month basis, to $1,775, some 30 basis points above the U.S. rate, as noted [&hellip;]<\/p>\n","protected":false},"author":436,"featured_media":8019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,5,4],"tags":[511,458],"class_list":["post-8526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro-reports","category-multifamily-market","category-real-estate-trends","tag-multifamily-outlook-2024","tag-portland"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Portland Multifamily Market Report \u2013 October 2024 - Yardi Matrix Blog<\/title>\n<meta name=\"description\" content=\"Advertised asking rents in Portland were up 0.4 percent on a T3 basis, to $1,775, 30 bps above the national average, Yardi Matrix reports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.yardimatrix.com\/blog\/portland-multifamily-market-report-october-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Portland Multifamily Market Report \u2013 October 2024\" \/>\n<meta property=\"og:description\" content=\"Advertised asking rents in Portland were up 0.4 percent on a T3 basis, to $1,775, 30 bps above the national average, Yardi Matrix reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardimatrix.com\/blog\/portland-multifamily-market-report-october-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Matrix Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-04T09:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-18T12:30:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardimatrix.com\/blog\/wp-content\/uploads\/sites\/39\/2024\/07\/Matrix-Multifamily-Metro-October-2024-Portland.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Madalina Pojoga\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Portland Multifamily Market Report \u2013 October 2024 - 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