New housing report shows average monthly rent in Portland rose 7 - KPTV - FOX 12

New housing report shows average monthly rent in Portland rose 7 percent

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PORTLAND, OR (KPTV) -

Portland's housing affordability continued to decline in the past year. This is the fourth consecutive year of a city-wide rent increase above 5 percent, according to the 2016 State of Housing in Portland Report.

This new report shows the average monthly rent in Portland rose 7 percent, with increases as high as 18 percent in units with more than one bedroom.

According to the report, the city's average rent has increased almost 30 percent overall since 2012.

Portland Housing Bureau said the new housing trends are troubling for the average Black, Latino, Native American, and single-mother households because there are no neighborhoods in the city where they can afford to rent.

"A Portland where people can't afford to live and work, or realize the dream of homeownership if they are a person of color, a mother trying to provide for her children, a senior citizen, or a low-wage earner working to get by is a Portland we can't accept," said Commissioner Dan Saltzman, who oversees the Portland Housing Bureau. "It's disheartening to see the picture is still bleak for many Portlanders, but I am proud that that we have taken swift action as a City since the last report and are devoting resources and advancing policy to turn the tide on our housing crisis."

Portland Housing Bureau said east Portland neighborhoods saw the largest increase in home sales prices, as well as largest rent increases.

Kurt Creager, Director of Portland Housing Bureau, said they will dedicate "more resources than ever to affordable housing."

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