X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
The Masters The Masters Apartments, a 144-unit garden-style property, was built in 1996.

ALOHA, OR—An elevated level of supply is being delivered to the Portland apartment market with about 20,000 units delivered since 2012 alone, representing a 12% increase in inventory. Although there has been strong job and population growth resulting in a solid household formation rate, the cumulative effect of such rapid growth in stock is causing rents to slow substantially as existing units compete with new units for tenants, according to a winter multifamily metro outlook by Fannie Mae.

While Portland’s job growth projection remains healthy and is likely to produce demand for about 6,000 new apartments in 2018, in the near-term new supply is expected to continue to outpace demand. Demographics are in Portland’s favor with the population forecast to grow by 1.3% on average annually

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

More from this author

 

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.