Market Report

2022 Q1 | Multi-family Market Report (Norris & Stevens, Portland)


Bringing more business activity back to Portland’s urban core will be essential for maintaining the city’s rising apartment profile. With most COVID-19 era restrictions lifted in March, dining, shopping and experiential offerings should draw more residents back to the central part of the city.

As more people move to Portland seeking a better quality of life, this is driving up the demand for multi-family housing. Portland’s population has grown by 11.4% over the last decade, which equates to around 1.1% annually. This is almost double the national trend of 6.3% over the same time period.