Portland Multifamily Figures Q4 2023

Portland Multifamily Investment Sales Volume Ticks Up Amidst Softening Occupancy

February 12, 2024 7 Minute Read

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-Multifamily investment sale volume in the Portland Metro rose for the second quarter in a row, with $333M in sales completed in the quarter.

-Year to date absorption ended positive at 1,817 units. However, the positive absorption was outpaced by 4,857 new units delivering in 2023, compressing the occupancy rate from 95.0% at year-end 2022 to 93.8% at year-end 2023.

-In the Portland metro, homeownership costs 148.5% premium compared to renting.
As of November, the Portland metro unemployment rate fell to 3.4%, below the national average of 3.7%.