IncSmart Oregon (Small Business and Startups) -
Portland Oregon rental fees have the largest decline in America. The price of rent in Oregon has declined 2.5%. Rents have been slowing for eight consecutive months. There are 15,000 more apartments not in Portland than there were in 2015 when they were having a housing shortage. With the job market so strong, developers have over built in the city, and they now face an urban construction boom.
Portland has been inundated with a glut of luxury housing. The slowing of rental rates are good news for Oregon renters. Some Portland developers are now adding as much as 8 weeks free rent, and $1000 Amazon gift cards. The Portland City Council is also asking for a 6 month moratorium on short term rentals. Portland currently has a 300 unit cap with their short term rental ordinance.
By IncSmart Staff Writer
Starting a Business in Oregon
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