Rental Housing Detached Units Declined 30 Percent in Portland
Not unexpected by those in the Rental Industry, Rent Control hurts those it intends to help. The Oregon Association of Realtors and Multi Family NW retained ECONorthwest to conduct an independent study. The study determined that rental housing declined 30 percent in the City of Portland from 2015 through 2020.
The number of single family detached rental units in the City of Portland declined
from 2,599 units in 2016 to 1,880 in 2020, a loss of 719 units.
* A 28% reduction in the stock of detached rental housing
* The share of detached homes that were rental units decreased from 20.5% to 14.5%
* There are approximately 140,000 rental units in the city
* 6,300 of them are 3+ bedroom market rate units (4.5% of the stock of all rental units)
* Losing 719 units (detached housing) is a 10% reduction of 3+ bedroom rental units
The number of single family detached rental units in the Portland Metro declined
from 5,571 units in 2017 to 4,460 in 2020, a loss of 1,111 units.
* A 20% reduction in the stock of detached rental housing
You can read the report: Single family detached rental housing trends from 2015 to 2020 in the Portland Metro Region for yourself.
Report and article provided by Oregon Association of Realtors, Multi Family NW and ECONorthwest.