Rental Statistics for Portland OR

[Isaac Frost]

So we're looking for a rental property for an out of town client, but I also am looking for data to assist in purchasing our next rental house for us.  Is there anywhere that has statistics on average rental price and vacancy rates by neighborhood in Portland metro area?

Maybe some of you can chime in on your current favorite areas.  Client wants LO or other higher end neighborhood, but we are advising to stay closer in where rentals are snatched up quickly since there is a high desire for the urban experience and older neighborhoods.

When we show them places like Irvington, Alameda, Hollywood they look online and say "there was two shootings near there in the last year," which is true but they are also some of the highest desired areas in town.  I get the whole mantra of looking for the best schools, lowest crime rates (like LO or Dunthorpe) but I feel like getting long term tenants and quick turnover is harder in those areas.  Maybe I'm wrong.  That's why I'm looking for data.

Thanks much!

[Jay Hinrichs]

vacancy in most of metro PDX is like 1% or less.. need no stats to tell you that.

I see PDX as a west side east side place.. I do think though that east side has a lot more inventory and quite a few with deferred maintenance or rehab that can be purchased and some forced equity established.

Not sure Dunthorpe is really a rental market at all.  nice area for sure.

for rentals in and around LO I would be looking in the lake grove area there are plenty of older homes there that would make nice rentals.. and have some upside.

I think in that area if you have sewer and water and one of the larger lots.  Say 10k sq ft and can buy for anywhere near 300k I like that as a long term play.. as I believe we are just now coming into that being land value for infill tear downs..  homes in this area are routinely selling at 900 to 1mil or so.. without being in what was the perceived to be better parts of LO.. so there would be some upside to rent then do a spec if timing was right. And or a lot of those with a nice rehab will bring 500 to 600k as well.

now I know in the east side neighborhoods infill and fix and flip is well established.. I personally have one going in Hawthorne that I think we will exit at 900 to 950k its a pop top.. and personally because it is east side you see not so nice houses on the same block.. but same can be said in LO.