Portland is another real estate market looking promising for 2017. Right now it is a seller’s market in Portland, there are way more buyers than sellers. This is despite the fact that over 10,000 units were added in the past two years. A seller’s market might turn investors away but in fact, now would be a better time to buy as home prices are clearly continuing to rise. If the market stays this way, a real estate investment property in Portland could appreciate a lot faster than anticipated.
Portland was one of the best performing economies in 2016, according to Bloomberg data. What exactly performed well? Employment rates, salaries, home prices, mortgage delinquency, tax revenues, and company equity.
As you may know, a well-performing job market and increase in employment opportunities means more people flee to that area. And with Portland home prices soaring, these new residents (mostly millennials) are searching for rental properties.
|Facts and Market Trends in Portland|
|Homes For Sale|
|Traditional Vacancy rate|
|Airbnb Occupancy Rate|
|Median Rent Price|
|Median Days on Market|
|Price to Rent Ratio|
|Average Cap Rate|
|Average Rental Income|
|Median Household Income|
|RENTAL STRATEGY||STUDIOS||1 ROOM||2 ROOMS||3 ROOMS||4 ROOMS|