Student housing prices are rising in Portland
Add Axios as your preferred source to
see more of our stories on Google.
Student rents in Portland have risen more slowly than the region's broader rental market over the past five years, but the gap still leaves many struggling with affordability, according to Moody's data shared with Axios.
Why it matters: Pricey student housing adds to the already-high cost of college, which has increased by nearly 30% in Oregon over the last decade.
By the numbers: Average student rents in Portland grew by 18% from 2020 to 2025, while average market-rate rents grew 25%.
- A one-bedroom apartment in Portland State University's Blumel Residence Hall costs $1,757 a month, which is on par with the city's average rent, per RentCafe.
- At Reed College, rent for a one-bedroom on campus is slightly cheaper at $6,070 per semester (roughly four months, so about $1,500 a month).
Yes, but: Once students leave on-campus housing, they face a dearth of affordable options and square footage.
- Oregon's housing shortage — compounded by decades of under-building and development delays during the pandemic — is directly responsible for rising rents, according to the state's own analysis.
- Plus: Rapid rental increases "have largely eroded" wage gains for renters over the last five years, that analysis found.
The big picture: Nationally, rent growth for market-rate apartments has been outpacing that of student housing, Ricardo Rosas, Moody's associate data scientist, told Axios.
- However, over the past five years, roughly 24% of 140 colleges and universities analyzed in a recent report saw student rents grow faster than market-rate rents.
Between the lines: When rents rise in a metro area, student housing tends to follow suit, research suggests.
- Strong demand to live near campus instead of elsewhere in the metro can also keep student rents high.
- So can luxury apartments (think saunas, fitness studios and infinity pools), which have moved into many student housing markets.
The bottom line: "While multifamily rents continue to command higher rates, the rapid growth in student housing rents is creating a mounting affordability crisis for students," according to Moody's analysis.
- The financial strain could limit access to higher education, especially for lower-income students.