Portland rental market No. 4 for growth

Portland Business Journal by Wendy Culverwell, Business Journal Staff Writer

Date: Wednesday, April 27, 2011, 2:50pm PDT

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Commercial Real Estate, Residential Real Estate, Economic Snapshot

Further evidence Portland’s apartment market is reaching the overheated stage: The city ranks fourth in the nation for growth in apartment rents.

AXIOMetrics Inc. AXIOMetrics Inc.Latest from The Business JournalsJohnsey: Austin shifting from buying to renting homesAustin apartments ‘best’ in Texas — but priceyCharlotte's apartment market improvesFollow this company , a Dallas, Tex.-based firm that tracks the apartment market, released its March report on Wednesday.

Nationwide, rents increased 1.77 percent in March compared to a year ago.
Portland recorded a 9.92 percent increase in rents, boosting it to the No. 4 position, from No. 60 are year ago. Naples, Fla. hit the No. 1 spot, followed by San Jose, Calif. and Boulder, Colo.
The top four cities for occupancy rates were San Jose, Calif., Minneapolis, San Francisco and New York.