Rental market snapshot for Richmond, Portland
Richmond rental market summary
The rental market in Richmond, Oregon is showing signs of growth. In July 2023, there were 102 new listings, a 5.0% increase from the previous month. This is a 14.7% increase from the same time last year. The median rent in July 2023 was $1,749, a 5.0% increase from June 2023 and a 14.7% increase from July 2022. This indicates that the rental market in Richmond is on the rise.
The increasing number of new listings and the rising median rent indicate that the rental market in Richmond is becoming more competitive. As demand for rental properties increases, so too does the cost of rent. This is great news for landlords, but it may be difficult for renters to find affordable housing in the area. It is important for renters to be aware of the current rental market and to be prepared to pay higher rents if they want to secure a property in Richmond.
Median rent for all residential properties in Richmond
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The most expensive listings and top trending buildings in Richmond
Most Expensive Listings
Address | Rent Price | Bed / Bath |
---|---|---|
2035 SE 45th Ave | $4,000 | 5 / 2.0 |
1623 SE 41st Ave | $3,795 | 4 / 2.0 |
4836 SE Franklin St | $3,750 | 4 / 2.5 |
1017 SE 32nd Ave | $3,495 | 4 / 2.0 |
2203 SE 43rd Ave | $2,995 | 3 / 1.0 |
Top Trending Buildings
building name | avg rent price |
---|---|
Guardian Management LLC | $2,200 |
Thrive | $1,894 |
C&R Management GroupLLC (new) | $1,200 |
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Bedroom Breakdown in Richmond
Richmond neighborhood apartments rents
The rental market for studios in Richmond, Oregon is showing signs of growth. In July 2023, there were 7 new studio listings, representing a 12.9% increase in median rent from June 2023. The median rent for studios in July 2023 was $1,255, which is a significant increase from the median rent of $1,112 in June 2023. This indicates that the rental market for studios in Richmond, Oregon is on the rise and is likely to continue to increase in the coming months.
The rental market for 1-bedroom apartments in Richmond, Oregon is showing signs of stability. In July 2023, there were 9 new 1-bedroom listings, and the median rent for 1-bedroom apartments decreased by 4.1% from June 2023 to July 2023, settling at $1,679. This suggests that the rental market is not experiencing any drastic changes, and that the prices of 1-bedroom apartments are staying relatively consistent.
The rental market for 2-bedroom apartments in Richmond, Oregon is relatively stable. In July 2023, there were two new 2-bedroom listings, and the median rent for 2-bedroom apartments was $1,475, a 1.7% decrease from the median rent in June 2023. This suggests that the rental market is not experiencing significant fluctuations in prices, and that the market is relatively stable.