The top rental markets in Oregon are Portland, Beaverton, Hillsboro, Eugene, and Bend.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Oregon Rental Trends:
Oregon is one of the fastest growing states in the nation and is one of the most moved-to states – with lots of jobs available in tech and agriculture, Oregon’s economy boasts positive numbers. Whether property investors are interested in the culturally diverse cities, or the college-towns in Oregon, there are plenty of options as renting is necessary for many of its residents. Here are some highlights from the top rental markets in the Beaver State.
Days on Market:
The city with the lowest days on market is Eugene at 11 – under the national average which sits at 15 days; Portland has the highest number of days on market at 18.
The top three towns for the largest amount of leads per listing are under the national average sitting at 38. Here they are:
- Beaverton – 19 leads per listing
- Portland – 14 leads per listing
- Hillsboro – 9 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Eugene comes around that with the lowest average rent of $1,228 for a two-bedroom compared to the highest rent in Oregon at $1,550 in Portland.
Median Home Sale Price
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Oregon’s highest median sale price comes above that at $456,000 in Bend with its lowest median sale price at $330,000 in Eugene.
Oregon’s median income rings in at $51,010 – above the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Oregon’s cities between 2018 and 2019. With the largest being an increase of 50% in Hillsboro at $1,500, and the largest decrease at -16.67% in Beaverton with the current average at around $1,250 – near the national average for security deposits which is $1,200.
All of Oregon’s cities have a livability score of 66 or higher with the highest being both Beaverton and Hillsboro at 77!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.