For the First Time in a Year, Multifamily Rents Lift in Portland, Oregon

As the summer months take hold, multifamily leasing in Portland, Oregon, has strengthened and absorption, the difference between move-ins and move-outs, has subsequently rebounded. Pushed by an active suburban renter base and residents trickling back into submarkets that had fallen out of favor, annual rent growth has responded with its first positive reading since the first quarter of 2023.