Rent to Own Homes in Portland

Portland, OR is one of the fastest growing and most affordable places to live in the country. The picturesque beauty of the Pacific Northwest is the backdrop for this city and draws in a young and vibrant mix of like-minded professionals. The tech and green industries here are thriving and are creating a wonderful opportunity for growth for a new generation of Americans. Portland consistently ranks among the best cities in America for any number of topics, for example; Portland has been crowned with such titles as one of the friendliest cities, healthiest cities, and most livable cities.

Along with the growth and influx of people comes residential expansion in Portland. Trailing behind that expansion is the real estate market. As more people move in the higher, the demand becomes for housing and that demand fuels the real estate market. Since the rise in demand is typically not foreseen the inventory of the homes dip and that usually results in a bidding war for prospective buyers. Portland now sits at a very low inventory and homes going up for sale are seeing multiple offers. This lack of inventory is driving up the price of homes. In fact, Portland’s median home price has shot up nearly 10 percent over the last year alone. Longtime homeowners looking to sell or rent-to-own their homes in Portland have received a windfall due to al the growth.

Job market in Portland

Portland enjoys an excellent tech industry mostly due to the presence of Intel, which employs large chunks of the population at its various campuses. Intel is also continuing to expand with new offices and new job openings. The medical industry is also a significant employer in Portland through several health care providers such as Providence Health and Services as well as Oregon Health and Science University. Manufacturing is also thriving with companies such as Nike, which while technically is located in Beaverton, still employs a good number of folks living in Portland, around 6000 total

The job growth rate in Portland rose to over 3 percent this year, and the unemployment rate is right about even with the national average unemployment rate. The availability of jobs, the beauty of Oregon, and affordable housing is acting like a magnet, drawing in people from all over the country.

Housing market in Portland

Along with the growth and influx of people comes a residential expansion in Portland.  The people move in the demand for housing increases and that demand fuels the real estate market. Since the rise in that demand is typically not foreseen the inventory of the available homes dips and that lack of available real estate results in a bidding war for prospective buyers. Portland now sits at a surprisingly low housing inventory and homes going up for sale are seeing multiple offers. This lack of stock is driving up the price of homes.   In fact, Portland’s median home price has shot up nearly 10 percent over the last year alone. Longtime homeowners looking to sell or rent-to-own their homes in Portland have received a windfall due to al the growth.
Check out our rent-to-own homes in Portland today.