Oregon is adding housing, just not nearly enough of it.
By the numbers: The state's housing supply grew 5% between 2020 and 2025 — about 100,000 units — according to new federal data analyzed by the Oregon Journalism Project.
Between 2024 and 2025, Oregon added roughly 14,000 new units, falling far short of Gov. Kotek's goal of building 36,000 homes annually when she took office in 2023.
In Multnomah County, the five-year housing supply growth rate was 3.6%, trailing surrounding Washington (5.7%) and Clackamas (4.8%) counties.
Zoom out: Oregon's slowdown mirrors a broader slump across the West.
The region now lags behind the rest of the country in apartment construction, according to a new Realtor.com report.
New housing starts in the first quarter of this year fell nearly 33% compared to pre-pandemic levels, "suggesting that the region's supply pipeline may tighten in the years ahead."
What we're watching: Slower construction today could deepen affordability problems tomorrow.
Even though the median rent in the Portland metro dropped 1.7% year over year, per Realtor.com, it still costs about $1,600.
