Portland Multifamily Market Overview
As Portland’s population continues to grow into the future, its multifamily market is actively answering the call for more housing. Currently, there are more than 9,700 units under construction in the city, a 69.3% increase over Q1 2018. In order to accommodate the large number of new employees that firms are hiring, Portland’s office market is also seeing growth in its amount of square footage under construction. High profile corporations such as Nike and Adidas are currently building expansion campuses which, combined, total over 1,125,000 million square feet. The growing multifamily and office markets continue to complement the already expansive retail and sports and entertainment markets which, together, total 126 million square feet. The retail and sports and entertainment markets hold some of Portland’s most treasured points of interest and amenities, including Lloyd Center, Washington Square, Moda Center, and the Oregon Convention Center. Altogether, these markets culminate in Portland becoming one of the nation’s top places for residents to live, work, and play.
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