Portland Rent Report: March 2025
Welcome to the Apartment List March 2025 Rent Report for Portland, OR. Currently, the overall median rent in the city stands at $1,523, roughly the same as last month. Prices remain down 0.2% year-over-year. Read on to learn more about what’s been happening in the Portland rental market and how it compares to trends throughout the broader Portland metro area and the nation as a whole.
Portland rents are flat month-over-month and flat year-over-year
The median rent in Portland rose by 0.3% over the course of February, and has now decreased by a total of 0.2% over the past 12 months. Portland’s rent growth over the past year has is similar to both the state (0.1%) and national averages (-0.4%).
Portland rent growth in 2025 pacing similar last year
Two months into the year, rents in Portland have risen 0.3%. This is a similar rate of growth compared to what the city was experiencing at this point last year: from January to February 2024 rents had increased 0.2%.
February rent growth in Portland ranked #58 among large U.S. cities
Portland rents went up 0.3% in the past month, compared to the national rate of 0.3%. Among the nation's 100 largest cities, this ranks #58. Similar monthly rent growth took place in Chandler, AZ (0.3%) and Charlotte, NC (0.3%).
Portland is the #40 most expensive large city in the U.S., with a median rent of $1,523
Citywide, the median rent currently stands at $1,384 for a 1-bedroom apartment and $1,641 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,523. That ranks #40 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,208 for a 1-bedroom, $1,361 for a 2-bedroom, and $1,375 overall. The median rent in Portland is 10.8% higher than the national, and is similar to the prices you would find in Orlando, FL ($1,538) and North Las Vegas, NV ($1,515).
Portland rents are 7.2% lower than the metro-wide median
If we expand our view to the wider Portland metro area, the median rent is $1,641 meaning that the median price in Portland proper ($1,523) is 7.2% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.6%, above the rate of rent growth within just the city.
The table below shows the latest rent stats for 9 cities in the Portland metro area that are included in our database. Among them, Lake Oswego is currently the most expensive, with a median rent of $2,021. Portland is the metro’s most affordable city, with a median rent of $1,523. The metro's fastest annual rent growth is occurring in Tualatin (3.5%) while the slowest is in Hillsboro (-1.6%).
You can also use the map below to explore the latest rent trends in the Portland metropolitan area.
Methodology
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Data Access
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
