The City of Roses ranked number 4 in Zillow’s America’s Hottest Apartment Markets top 10 list.
To compile the list, Zillow looked at the share of rental apartments built in 2011 or after, the percentage of new apartment units built in the past year that rented within three months of being built, and the appreciation of rent prices for apartments over the past year. The Zillow economics team then crunched the numbers and found Columbus on top, followed by Seattle, with Denver and San Jose tied for third.
(READ MORE: Zillow)
The study shows that Portland apartments built since 2011 are 1.7% of the city’s rentals, 72% of new apartments built in the last year were rented in three months, and rent prices went up 8.6% over the past year.
In related news, the Sun Garden Apartments building in East Bend recently sold for $1.16 million, according to the Bend Bulletin.