Considerations for Renting in Portland, Oregon?

Answer 1

Portland is a popular city that is known for its natural beauty, great culture, and maybe not as flattering - as home of the NBA team that failed to draft Michael Jordan and Kevin Durant. However for people who are more interested in renting in the city than attending the NBA Basketball games, there are many options for renting in this city that are worth examining.

As of 2010, the apartment vacancy rate in Portland was actually noticeably increasing. This is in part due to a somewhat high unemployment rate, which is good for renters who have a job lined up. More vacancies means that a person looking to rent should be able to find better deals. Prices fall, and depending on the situation a renter might even be able to move up to a nicer apartment or rental house than he or she originally thought was possible. The bottom line is that Portland is a great city with a lot to offer, but it is a buyer’s (or renter’s) market right now.

In fact, there are many places in Portland, including at luxury apartment complexes, where the fierce competition to fill rentals has resulted in prices dropping as high as 30%. A person looking to rent in Portland should definitely check out multiple places to get a good sense of what deals can be made. Some apartment complexes are even offering one or two months free rent as an enticement for signing up.

If luxury apartments aren’t a renter’s cup of tea, many rental houses are declining in rent prices, as well. These can be found in almost any area around Portland and vary in price and quality. One final consideration for potential renters is location. There are some great classic arcades, downtown areas, and the world famous Voodoo Doughnuts store...but many of these places are open late at night. If you’re a light sleeper and not a night owl, then you will want to be careful about choosing a rental in those areas. There’s going to be a lot of foot traffic at night, and while some people love being able to get some doughnuts and a conversation at 3 am, it’s not for everyone.