Mt. Hood Rents Skyrocket
The rental situation in the Mt. Hood area is bleak. Demand far outstrips supply. The problem is, there is no supply. May sellers who made it through the recession and bubble bust have now decided to sell reducing rental inventory even further.
We see renters in our office nearly every day looking for a place to land. I don't recall even seeing a for rent sign in two years. The massive migration over the past five years to Portland has increased our population substantially. Just drive through Portland and see the multi-level units popping up on every other block. Where will all these people park?
Higher rents in PDX has pushed many more folks to the mountain which is a little more affordable for purchasing but try to find a rental.....good luck! We wonder how this will maintain this pace. If a buyer can buy in the long run, it's almost the only way to go!
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