Excellent opportunities in a rapidly growing region.
Portland has contributed its fair share to aspiring creativity, with its many colleges, legendary Saturday market, and some of the best craft beer in the country. In spite of, or perhaps because of the grey skies, Portland is also know for some of the best coffee in the nation; Stumptown coffee is a hit all the way over in New York.
Its quickly becoming a prime destination to invest into real estate. The housing industry is still recovering after the Great Recession, but new housing construction hasn’t kept up with the pace. The state has seen a slow but steady 3.63% growth in population since 2010, and there is simply a lack of inventory. Surprisingly the biggest contributors to the population growth are transplants from pricier states along the East Coast.
Portland has much to offer in terms of affordability- compared to larger cities like nearby Seattle- coupled with gorgeous scenery and a laid back vibe. Home prices are on the rise, however, up around 34% since 2012. Experts suggest they’ll keep rising near that pace for the next few years, which means excellent opportunity right now.
The local economy leans heavily on Nike, Intel, and international trade and for many years has grown much faster than the US average. The metro area is growing too- with the fastest growth now in Clark County. Experts expect a combination of 40,000 new homes and apartments to be built between Clark and Multnomah Counties over the next few years. Investments into single-family properties in these prime areas have great potential.
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Lack of inventory for the 3.63% population growth since 2010.
Home prices are forecasted to continue their rise over the next few years.
Some of the best coffee in the nation.