Aug 28, 2025 - Real Estate
Oregon's affordable apartments vanish
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Oregon's affordable apartments are disappearing as luxury rentals multiply, according to Harvard researchers.
Why it matters: Renters, already burdened by high costs, have fewer low-priced options to choose from due to the state's ongoing housing shortage.
By the numbers: In the past decade, units renting for under $1,000 a month (inflation-adjusted) fell by more than 55% in Oregon, per a report from Harvard's Joint Center for Housing Studies.
- Meanwhile, the number of upscale, $2,000-plus apartments in Oregon increased by nearly three fold (282%).
The big picture: Nearly a quarter of Portland-area renters spend over 30% of their income on housing.
- Oregon passed the nation's first-ever rent control law in 2019. It caps increases to 7% plus inflation or 10%, whichever is lower.
Reality check: The surge in high-end apartments can still benefit lower-income renters, the Harvard researchers noted.
- For one, areas with lots of new construction over the past few years, particularly in the South and West, saw rent increases slow or outright decline.
- And when higher earners move up, older, cheaper units may become available.