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Portland market rental trends report

Relocity April 17, 2025

Rental Trends

2:26

Portland’s rental market has seen a slight decline in rent prices over the past 3–6 months. This reduction is largely attributed to seasonal demand fluctuations and economic factors such as employment rates and urban development, which have influenced tenant mobility and market activity. As of Q1 2025, the median rent in Portland stands at $1,549 per month, which is 18% lower than the national average.

Beaverton

Beaverton’s rental market has experienced a steady increase in rent prices over the past 3–6 months, with average rents rising between 2-4% depending on unit size. This growth is largely driven by continued demand from professionals and families seeking housing near Portland, coupled with limited new rental inventory and inflationary pressures on property management costs. Additionally, the city's proximity to major employers in the tech sector has sustained strong demand. As of Q1 2025, the median rent in Beaverton stands at $1,930 per month.

Hillsboro

Hillsboro’s rental market has experienced a noticeable increase in rent prices over the past 3–6 months, with average rates rising between 3-6% across most unit types. 3-bedroom units saw a slight decrease. This growth is largely driven by the city's thriving tech industry, continued population growth, and limited rental inventory, which has kept demand high. Additionally, inflation and increased property management costs have contributed to rising rental prices. As of Q1 2025, the median rent in Hillsboro stands at $2,350 per month.