Searching for more information on how the Portland Rental Market is doing during summer 2025? If so, you’ve come to the right place!
In this aricle we will break down how the local rental market is doing during the summer months and what that means to you if you plan on listing your property for rent this summer.
Summer 2025 Rental Market Update
As of June 2025, Apartment List reports that the median rent in Portland proper is $1,552, up a modest 0.5% month-over-month. Still, down 1.0% year-over-year. (Source: reddit.com, ApartmentList.com, and NAIOP.org). One-bedroom apartments average $1,410, and two-bedroom apartments fetch around $1,672, according to apartmentlist.com. These figures align with broader Portland metro trends, where citywide rents are nearly 7% lower than the metro-wide average (metro median: $1,668), according to apartmentlist.com.
Other sources show slight variations: Zillow’s rental manager platform lists the all-property average rent at $1,695 — flat from last month and down just $5 from a year ago (marketwatch.com, zillow.com, qualityinfo.org). Apartments.com echoes this range, reporting monthly averages between $1,250 and $1,550.
Gradual Cooling
Historically, Portland’s rental market warms during spring and peaks in early summer, driven by increased relocations and academic cycles breakingac.com. This year is no exception—Portland saw 0.5% rent growth in May, compared to the national average of 0.4% (mysanantonio.com, ApartmentList.com, PortlandRentalHomes.com). However, annual growth remains mild; over the five months to May, rent rose just 2.1%, compared to 2.9% during the same period in 2024, according to apartmentlist.com. That suggests a market retaining seasonal strength yet tempering its overall momentum.
Modest Rent Growth
With its $1,552 median rent, Portland ranks among the 41st most expensive large U.S. cities, slightly above the national combined median of $1,398 (apartmentlist.com). Compared to the national average of around $1,628 (Apartments.com) or Zillow’s $1,695, Portland remains 5–10% cheaper apartments.com+1apartments.com+1.
Across the metro, some suburbs outpace city pricing. For example, Lake Oswego’s two-bedroom rents top $2,048, but areas like Gresham and Beaverton hover near $1,300–$ 1,440 (apartmentlist.com). Notably, Gresham’s rent decreased 0.3% year-over-year, while Lake Oswego saw a 4.5% annual rise, according to apartmentlist.com.
Zoning Reform
Oregon continues to combat its housing shortage through zoning reform—most notably through the Residential Infill Project (RIP1 & RIP2), which has allowed for increased “middle housing” density, yielding approximately 1,400 new housing units since its implementation. However, Portland’s zoning environment remains complex—with taxes and regulatory hurdles increasing development costs.
On the regulatory front, Oregon state rent caps restrict annual increases to inflation plus 7%, effectively capping hikes at around 10% per year, although new construction is exempt (en.wikipedia.org). Additionally, Portland lawmakers are considering curbs on algorithmic rent pricing, aiming to reduce corporate tools that may artificially inflate rents opb.org+1businessinsider.com+1.
Renters Are Staying Longer
Rising home prices are discouraging turnover. Around 14% of Portland renters have now lived in the same place for 10 years or more, up from 9% a decade ago (axios.com). This stability reflects a broader shift: many renters feel priced out of buying and remain tethered to their current units. However, condo scarcity may mean they’re paying more for less space.
Portland also saw the adoption of the FAIR ordinance, which enforces first-come, first-served leasing, limits screening criteria, and supports access for those with lower incomes. en.wikipedia.org
What Does The Future Hold?
- The mild seasonal uptick is expected to continue into summer, but annual rent growth has been modest.
- Supply increases via infill are slowly easing pressure, although rising construction costs and zoning barriers limit rapid expansion.
- Policy reforms (rent caps, pricing algorithm bans, FAIR rules) may stabilize rents in the short term.
- Homeownership costs remain high, which keeps demand for rentals strong and encourages renters to stay in their current homes.
- State-wide signals of rent control and local zoning changes set a precedent for sustained rental regulation.
Contact Us
Portland’s rental market is entering summer with steady yet modest momentum. While rents tick upward seasonally, concerns about inflation, inventory injections, and rent-stabilizing legislation balance the scales. Renters can expect slight increases—sub-$20 month-to-month on a $1,500 baseline—but not runaway spikes. For those hunting rentals, timing an early summer window may offer the best selection before competition intensifies.
Overall, it’s a market showing resilience, regulation, and gradual moderation—a far cry from boomtown volatility, yet not a renter’s paradise either. Decision-making under this climate requires weighing moderately rising prices, growing options, and tighter legislative guardrails.
To learn more about the Portland Rental Market, or to get a property management quote, contact us today by calling (503) 646-9664 – Talk to a Live Person – Our office answers the phone 9 AM to 5 PM Monday through Friday – or click here to connect with us online.
