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2.4 – 5.4% Vacancy Rates; Has the Willamette Valley Rental Market Flattened Out?

The rental market in the Willamette Valley has been on one heck of a ride over the last few years. The Apartment Report recently came out and revealed vacancy rates as low as 2.4% in Gresham and as high as 5.4% in Northwest Portland, with Salem and Eugene coming in at 2.9% (historically, vacancy rates of 6-7% have been considered “normal”). In the Portland metro market specifically, we are seeing an average overall vacancy rate of 3.71% and rental rates of $1.47 per square foot per month. In the Salem market those figures are at 2.9% and $1.14; the Eugene market is at 2.94% and $1.16. However, these figures are very close to what they were at the beginning of 2016, so we are seeing signs tha

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