Actually the question in Portland is: where can I rent?
The “City of Roses” is not always coming up roses when it comes to someone trying to find a rental home.
Portland’s vacancy rate is just 5.2% - which means only about 5% of rental homes are currently vacant, available for the next renter. Our vacancy rate is one of the lowest in the country - the national average is 8.7%.
Tight rental markets are particularly hard on low-income individuals and families. With fewer rental homes available, it’s that much harder to find one that’s affordable. Too many hardworking families are having to choose whether to buy groceries or pay rent.
The City is proud to partner with the Community Alliance of Tenants (CAT), a nonprofit dedicated to empowering renters, and helping them access (and keep) safe, affordable homes.
Elisa Harrigan, CAT’s Executive Director, recently spoke on OPB’s Think Out Loud about Portland’s vacancy rate and the rental market. Take a listen and gain some insight into what’s happening in our local rental markets.
Gauging Oregon's Rental Market Economy
Photo credit: OPB