Investors from all over the West Coast are drawn to Portland. From Vancouver, BC to San Diego, California, investors have been targeting Portland real estate for many years, and there are many good reasons to invest in the Portland real estate market. With the market going full speed ahead, low interest rates, and reasonable sales prices compared to other West Coast cities, the Portland real estate market is full of opportunities.
Add to that, Portland has one of the lowest rental vacancy rates in any major US city. We have a greater percentage of 25-40 year olds, many of whom rent. Also, Oregon is at the top of the list for more people moving to the state than leaving it. All of this makes for more people needing a place to live.
Portland’s Hot Rental Market to Your Advantage
The demand for Portland rentals is high with multiple applications for many apartments. Despite sales being up, there are still many people who cannot buy at this time because they have gone through a foreclosure or short sale, and must wait until their credit has been repaired. In addition, many young people, and the previously unemployed, have now found jobs and are ready to live on their own in a rental house or apartment. These new circumstances, coupled with the lowest rental vacancy rate in the nation, have pushed demand for rentals to an all time high.
Single Family: $313,000
*These median prices are based on current, active MLS listings in core areas of Portland, not
outlying suburbs. As of 5/31/2015.
Lots Of Reasons To Invest In Portland Real Estate
When thinking about investing, consider ties that you may already have to the area. Some of my clients have family or friends living in Portland. They invest in a multi-family property and keep one unit for themselves to stay in when they visit. Some are relocating to Portland for a job and actually plan to live in one of the units year round. Others live outside of the area but love to visit and with their investment, they have a tax-deductible reason to visit Portland and enjoy the city more often. Of course, some investors live in Portland already and have decided to make an initial investment or add to their portfolio. Finally, I have a few clients who own duplexes and now plan to sell their property and buy a 6-8 unit multi-plex.
The bottom line is that there are a variety of ways and reasons to become an investor. Let’s discuss your options, your goals, your timeline, and the amount you want to invest to turn your investing dreams into reality. Give me a call or send me an email, today!