Portland, Oregon’s multifamily market remains balanced as 2026 approaches. Leasing has been steady, and new supply additions are visibly tapering. Thus, the vacancy rate continues to downshift from a high mark of 7.9% in the fourth quarter of 2024 to 7.3% as of the end of the third quarter.
Portland, Oregon, apartment leasing is heavily concentrated as 2025 wraps up
Vancouver, Washington, accounted for 33% of the region’s demand this year
By John Gillem
CoStar AnalyticsDecember 10, 2025 | 4:34 P.M.
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