It almost doesn't get any better, Like Christopher says with Intel, Kaiser and Genetech hiring lots of people the home prices and rates are at the bottom.
Here is Marcus & Millichap rental report highlights for Portland Metro 3rd quarter
"Portland Lifestyle Remains Attractive to Renters"
2012 Annual Apartment Forecast
Employment: Employers in the Portland metro area will hire 19,000 workers this year, marking a 1.9 percent increase in total employment. In 2011, the total job growth was 1.3 percent with 12,300 new hires.
Construction: Developers will complete 1,000 units through 2012, at a 1 percent increase to cur- rent stock. Last year, just 71 rental units were brought online, marking the lowest annual addition to inventory in the last decade.
50 basis point
Vacancy: Despite a signiï¬cant addition to total inventory, the vacancy rate for rentals in Portland will decline 50 basis points this year to 2.2 percent. Last year, metrowide vacancy descended 180 basis points.
Rents: In 2012, asking rents will rise 3.8 percent to $870 per month. Effective rents will advance 4.6 percent to $800 per month. Asking and effective rents charted respective gains of 2.2 and 2.7 percent last year.
If you need help give me a call, I live in the area and know the market very well. To look for homes in Hillsboro click on this link.
Plexes are always better than SFR more units softens your vacancy rate. A good rule is to plan on a 20% vacancy rate.
Investing in rentals is not all about the rents and the rents are subjective to many factors they are cyclical and you have very little control over them. Having a rental is about cash flow, appreciation, after tax ROI and equity generation.
Thanks for providing the report details.