PORTLAND, Ore. — The average rent price in Portland increased at a lower percentage than the national average in 2018, according to a report.
While Portland had the third-highest average rent price in the metro area, at $1,490 per month, it was also one of five cities in the Portland metro area with a lower average rent increase than the national average of 3.1 percent.
Portland's average rent went up by three percent in 2018. The other four cities in the metro area whose rent went up slower than the national average last year were Tualatin (1.6 percent); Oregon City (1.7 percent); Milwaukie (2.2 percent); and Clackamas (2.9 percent).
The average price to rent in Portland — $1,490 per month — was higher in 2018 than the national average rent price of $1,419 per month, though it was less expensive than other large cities like New York City ($4,200 per month); Los Angeles ($2,461); Washington D.C. ($2,138); and Seattle ($2,045).
The highest average rent prices in the Portland metro area were in Lake Oswego (1,654 per month); Hillsboro ($1,495); Portland ($1,490); Wilsonville ($1,424); and Happy Valley ($1,403).
Lake Oswego had the highest average rent increase (15.7 percent) in the Portland metro area in 2018. The next-highest rent increases in the Portland metro area were in Happy Valley (5.5 percent); Tigard (5.3 percent); Gresham (4.7 percent); and Wilsonville (4.4 percent).
The data was provided by commercial real estate data and research firm Yardi Matrix and compiled by RENTCafé, a nationwide apartment search company. Read more about the methodology for their study here.