PORTLAND, Ore. (KOIN) — For those looking for a place to live in Portland, rent prices are a bit higher than in years past.
According to rent.com, new data shows rent prices in Portland skyrocketing. The average rent for apartments in the Rose City is between $1,250 and $2,315 in 2022.
The website lists a studio in Portland at $1,250 on average, which is a 14% annual change increase.
If you’re looking for a one-bedroom, you’ll have to pay around $1,600 a month while a two-bedroom is averaging $2,315 — that’s a 27% annual change increase. The average rent for a three-bedroom place is listed at $2,295.
What about neighborhoods?
“The most affordable neighborhoods in Portland are Centennial, where the average 1-bedroom apartment rent goes for $1,035, Hazelwood, where renters pay $1,070 on average for a 1-bedroom apartment, and Multnomah Village, where the average 1-bedroom apartment rent goes for $1,075,” the website stated. “If you’re looking for other great deals, check out the listings in Powellhurst-Gilbert ($1,125 for a 1-bedroom apartment) or Glenfair ($1,150 for a 1-bedroom apartment), compared to the $1,600 average for a Portland 1-bedroom apartment.”
The Pearl is listed as the area with the largest average studio rent, which is at $1,575 — and one-bedroom rent, which is $2,111. For a two-bedroom, you’ll see the highest average rent of $3,300 in the Goose Hollow neighborhood, according to the website.
A three-bedroom spot will be at its highest in Northwest Portland at $3,786.
If you want to save some money for a studio, rent.com says it will cost you $1,250 in Ladd’s Addition in Southeast Portland. Surprisingly, Northwest Portland is listed as the neighborhood with the lowest average rent for a one-bedroom: $1,749.
Your money will also go a long way in North Portland for a two-bedroom — $2,412 on average — along with $2,375 on average for a three-bedroom in the Woodstock neighborhood.
Neighboring Beaverton isn’t much cheaper, as a studio will cost you around $2,664.
Down in Salem, you’ll find a better deal for a studio at $1,050.
If you think that moving to Washington will save you some money, then good luck. The average rent prices for a one- and two-bedroom spot were listed in Ridgefield — $1,790 and $2,615.
The website says you can save some money in Oregon City for a one-bedroom and Aloha for a two-bedroom.
Rent.com listed Milwaukie at $2,887 as the city with the highest average rent price for a three-bedroom. On again, Salem is listed as a city for a lower rent price — this time for a three-bedroom — at $1,845.
In Oregon and beyond
Statewide, Oregon saw an average rent increase from $853 in 2020 to $1,655 in 2021, according to the analysis.
The report added that the rental market remains red-hot for both apartments and houses nationally.
“Rental prices for single-family homes are at an all-time high, increasing an average of 7.8 percent in 2021. And while notoriously expensive Los Angeles, CA, saw year-over-year decreases in its one-bedroom prices, just to its south the city of Huntington Beach continues to see big increases in both unit types,” said the website.
The analysis lists $1,684 for a one-bedroom nationally along with a $1,997 for a two-bedroom.