Rental site says Portland had country’s biggest jump in prices - KPTV - FOX 12

Rental site says Portland had country’s biggest jump in prices

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PORTLAND, OR (KPTV) -

Many renters say they are feeling the pinch in Portland when it comes to rising home rental prices, and a new report is backing that up.

According to apartment search site ABODO.com, in the last month Portland has experienced the highest increase in rental costs in the country.

The site found rates went up 14 percent between February and March, with one bedroom units jumping from over $1,100 to just over $1,300.

Indianapolis had the second highest increase with rent increasing about $60, from $523 to $588.

Researchers from ABODO said the jump is in part because young people can't afford or don't want to buy a home, leading to an increase in demand for rentals, and their prices.

The news is not bad in other parts of Oregon, though, as rental prices in Eugene dropped 12 percent in the same time.

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