Commentary: Third Quarter Shows More Positive Results for Portland Multifamily Market

Summary

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Prospective tenants looking for apartments in Portland can tell you just how challenging it can be to find one, and NAI Norris, Beggs & Simpson's third-quarter apartment report reflects that.

The report has Portland-area apartment vacancy in the third quarter at just 2.78 percent. Though vacancy increased slightly from the previous quarter, the rate is still very healthy and especially impressive when considering that vacancy peaked at 5.43 percent during the fourth quarter of 2009.

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Extract

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Commentary: Third Quarter Shows More Positive Results for Portland Multifamily Market

Rental rates have risen significantly in recent years; overall, they're up almost $40 year-over-year, and more than $70 in the past two years, to $852 - or about 98 cents per square foot. New units are leading the way in rental increases; ...

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