Apartments For Rent Portland Craigslist (2024)

FAQs

Is it hard to get an apartment in Portland Oregon? ›

With decent credit, the ability to pay rent for 6-12 months or a letter from a new employer you can be approved . Any other criteria you lack can usually be made up for with an additional security deposit or a co-signer. Leasing in Portland is a relatively easy process.

Searching Online

Craigslist is the go-to option for finding an apartment in Portland. The popular listings website is used by private landlords, management companies and renters looking for roommates and subletters. Pet owners will find the apartment hunt a little extra difficult.

Leckie says rents in Portland rose quickly because of an uptick in demand from people moving to Oregon. He says now that the demand has cooled, the rental market is going through a correction. “Our migration data show a lot of moving away from the West Coast, and so a lot of that's going to be California.

How much has average rent changed in Portland, OR? In the past year, rent has increased by 1.4%, which averages out to $22 more per month. Market Trends Over Time.

PORTLAND, Ore. (KOIN) — If you're a single Portland resident making less than $52.90 per hour, you're not living comfortably, according to a 2024 study published by the financial tech company SmartAsset. That hourly pay equates to $110,032 per year.

Winter is Better for Your Budget

If saving as much money on rent price and fees is important to you, then wait until winter when renting an apartment. Demand for rentals is usually at its lowest after the Christmas and New Year's holidays.

“Portland is ranked as the worst city in the U.S. for landlords, according to Spark. because of its exceptionally tenant-friendly policies and stronger restrictions. Portland bans “no-cause evictions,” an intentional misnomer that refers to landlords opting not to renew a tenant's lease agreement.

The rental vacancy rate grew from 4% to 6.8% between 2022 and 2023 in Portland, per census data.

Landlords subject to Oregon's rent control law can increase rents 10% in 2024, the Department of Administrative Services announced Tuesday. That's the maximum allowed under a new law passed this year that sought to prevent most double-digit rent increases in years of high inflation.

Homes for sale in Portland have a median listing price of about $580,000. Seattle, on the other hand, has a median listing price of nearly $800,000—a difference of over 30%. The median rent in Seattle is also about 30% higher: $2,900 versus Portland's median rent of $2,200.

Will rent ever go down in Oregon? ›

Will rent ever go down in Oregon? It's hard to predict, but rent prices in Oregon may stop increasing or decrease if more housing becomes available or if a significant economic downturn reduces the demand for housing.

Investing in Portland real estate is a better long term financial decision than renting. If you're in the market for a home in the Portland, Oregon area and are ready to invest in your overall happiness and financial stability, our team is here to help.

Portland uses rent control, which caps the rent increase at 7% plus the Consumer Price Index. As of 2024, the allowable rent increase is capped at 10% annually. This means that landlords cannot increase rent by more than 10% in a 12-month period.

Portland State University's Homelessness Research and Action Collaborative said that the number of people living on the streets in Oregon increased by 8.5% from 2022 to 2023, but according to the report, the state only has enough shelter beds for 42% of unhoused people.

Hawaii ranked as the state with the highest average rent, according to doxo. In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills.

Oregon new minimum wages effective July 2023

The minimum wage varies by location to account for different costs of living. But housing is also more expensive in the Portland metro area, where tenants on average must earn $35.37 an hour to afford a two-bedroom rental.

Reliable and legal documentation and telephone numbers are required to verify income. If employed, you will need to submit a copy of your last year's W-2 Two (2) of your most recent pay stubs. If self-employed, applicants must provide the most recent tax returns and 3 months bank statements.

Unfortunately, Oregon is considered one of the least landlord-friendly states in the U.S. This is because there are many rent control policies and protection measures for tenants, which can affect the landlord.

HUD Low Rent Apartments Portland Metro Area (subsidized) Apartments with Subsidized Rent for People Under 62 Without Disabilities (created by NW Pilot Project)