Figures

Portland Multifamily Figures Q4 2024

Occupancy rate rises as positive absorption keeps pace with new unit construction

February 28, 2025 5 Minute Read

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— The Portland multifamily market closed Q4 2024 with an occupancy rate of 94.9%. This represented a .5% increase from Q3 2024.

— Total units absorbed in Q4 2024 was 2,012 units, compared to 3290 units in Q3 2024.

— There were 958 units delivered in Q4 2024, compared to 2,387 units in Q3 2024.

— The overall average rent per unit for multifamily in Portland ended Q4 2024 at $1,736, representing a -$0.02 change from Q3 2024.

— The total multifamily investment sales in Q4 2024 amounted to $853.9 million in total volume, compared to $491.4 million in Q3 2024.