Department of Numbers

Sorry for the publishing delay for 2015 rent data. I hope to have the update available soon.

Portland Oregon Residential Rent and Rental Statistics

The median monthly gross residential rent in Portland, OR (the Portland-Vancouver-Hillsboro metro area) was $1,009 in 2014 according to the Census ACS survey.1 Average gross rent in Portland was $1,074 in 2014. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2015 Portland median and average rent data will be released in September of 2016.

Data is also available below for Portland rental vacancy rates, Portland rent as a percent of median income and the fraction of renters in Portland.

Show dollars as: Nominal Real

Real Gross Rent in Portland Oregon (2014 dollars)2

2014 1 Year Change 3 Year Change
US Median Gross Rent $934 +3.43% +4.83%
Oregon Median Gross Rent $924 +4.41% +7.57%
Portland, OR Median Gross Rent $1,009 +4.34% +8.85%

Portland, OR Real Gross Rent Trends

At $1,009, real median gross rent in Portland was at its highest level in 2014 since the series began in 2005. At $1,074, real average gross rent in Portland was at its highest level in 2014 since the series began in 2005.

Real Gross Rent in Portland: Portland OR Median, Portland OR Average, Oregon Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Portland

Date US
Median
Oregon
Median
Portland, OR
Median
Portland, OR
Average
2014 $934 $924 $1,009 $1,074
2013 $903 $885 $967 $1,033
2012 $891 $869 $941 $1,005
2011 $891 $859 $927 $982
2010 $905 $864 $918 $977
2009 $909 $884 $946 $1,000
2008 $924 $875 $939 $994
2007 $878 $827 $884 $927
2006 $887 $830 $889 $947
2005 $862 $816 $872 $915

Portland Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2014 the rental vacancy rate for Portland Oregon was 2.21% according to Census ACS data.

Rental Vacancy Rate in Portland Oregon

2014 1 Year Change 3 Year Change
US 6.32% -0.17% -1.08%
Oregon 3.57% -0.88% -1.49%
Portland, OR 2.21% -0.67% -1.88%

Trends in Portland, OR Rental Vacancy Rate

The rental vacancy rate in Portland peaked in 2005 at 6.25%. Since then it has fallen by 4.04% to 2.21%. Data records for this series originated in 2005.

Rental Vacancy Rate: Portland OR, Oregon, US

Rental vacancy rate in Oregon

Historical Rental Vacancy Rate data for Portland

Date US Oregon Portland, OR
2014 6.32% 3.57% 2.21%
2013 6.49% 4.45% 2.88%
2012 6.77% 4.75% 4.37%
2011 7.40% 5.06% 4.09%
2010 8.17% 5.60% 5.52%
2009 8.43% 6.30% 5.60%
2008 7.86% 5.71% 6.06%
2007 7.87% 5.08% 4.53%
2006 7.70% 5.57% 5.43%
2005 7.74% 6.39% 6.25%

Rent as a Fraction of Income

Using median household income data for Portland, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Portland, median monthly gross rent as a fraction of median household income was 20.10% in 2014 according to the ACS.

Portland Oregon Median Annual Rent as a Fraction of Median Household Income

2014 1 Year Change 3 Year Change
US 20.89% +0.10% +0.19%
Oregon 21.71% +0.53% +0.18%
Portland, OR 20.10% +0.44% +0.30%

Trends in Portland, OR Rent as a Fraction of Income

Portland renters paid 20.10% of median household income towards the median monthly gross rent in 2014. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Portland OR, Oregon, US

Percent of median household income going towards median monthly gross rent in Portland Oregon

Historical Data for Annual Rent as a Fraction of Income in Portland Oregon

Date US Oregon Portland, OR
2014 20.89% 21.71% 20.10%
2013 20.78% 21.18% 19.65%
2012 20.65% 21.04% 19.67%
2011 20.70% 21.53% 19.80%
2010 20.50% 21.03% 19.60%
2009 20.12% 20.28% 18.93%
2008 19.00% 18.66% 17.09%
2007 18.66% 18.30% 17.20%
2006 18.90% 18.53% 17.47%
2005 18.89% 19.25% 17.94%

Renter Fraction in Portland Oregon

You can calculate the renter fraction in Portland in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Portland as a fraction of total Portland households. In 2014 40.47% of households were renters according to Census ACS data.

Portland Fraction of Renters by Household Units

2014 1 Year Change 3 Year Change
US 36.90% +0.40% +1.48%
Oregon 39.28% +0.11% +0.06%
Portland, OR 40.47% +0.73% +1.26%

Trends in the Portland, OR Renter Fraction

At 40.47%, the 2014 household based renter fraction in Portland was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Portland OR, Oregon, US

Fraction of renters in Portland

History of Portland Renter Fraction

Date US Oregon Portland, OR
2014 36.90% 39.28% 40.47%
2013 36.50% 39.17% 39.74%
2012 36.09% 38.44% 39.48%
2011 35.42% 39.22% 39.21%
2010 34.65% 37.45% 38.15%
2009 34.13% 36.95% 37.92%
2008 33.36% 35.66% 34.66%
2007 32.80% 35.41% 34.87%
2006 32.73% 35.22% 34.98%
2005 33.10% 36.22% 36.60%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.