December 2018 Wilsonville Rent Report

Welcome to the December 2018 Wilsonville Rent Report. Wilsonville rents increased over the past month. In this report, we'll evaluate trends in the Wilsonville rental market, including comparisons to cities throughout the state and nation.

Wilsonville rents increase sharply over the past month

Wilsonville rents have increased 1.0% over the past month, and have increased sharply by 6.0% in comparison to the same time last year. Currently, median rents in Wilsonville stand at $1,520 for a one-bedroom apartment and $1,790 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in September. Wilsonville's year-over-year rent growth leads the state average of -0.2%, as well as the national average of 1.3%.

Rents rising across cities in the Portland Metro

Throughout the past year, rent increases have been occurring not just in the city of Wilsonville, but across the entire metro. Of the largest 10 cities that we have data for in the Wilsonville metro, 9 of them have seen prices rise. Oregon as a whole logged rent growth of -0.2% over the past year. Here's a look at how rents compare across some of the largest cities in the metro.

• Looking throughout the metro, Hillsboro is the most expensive of all Wilsonville metro's major cities, with a median two-bedroom rent of $2,010; of the 10 largest cities in the metro that we have data for, Portland, where a two-bedroom goes for $1,320, is the only major city to see rents fall year-over-year (-0.6%).
• Beaverton, Gresham, and Vancouver have all experienced year-over-year growth above the state average (1.6%, 1.6%, and 1.6%, respectively).

Many large cities nationwide show more affordable rents compared to Wilsonville

As rents have increased significantly in Wilsonville, a few large cities nationwide have seen rents grow more modestly. Compared to most large cities across the country, Wilsonville is less affordable for renters.

• Wilsonville's median two-bedroom rent of $1,790 is above the national average of $1,180. Nationwide, rents have grown by 1.3% over the past year compared to the 6.0% increase in Wilsonville.
• While Wilsonville's rents rose significantly over the past year, many cities nationwide also saw increases, including Las Vegas (+4.4%), Phoenix (+3.2%), and Austin (+3.1%).
• Renters will generally find more expensive prices in Wilsonville than most large cities. For example, Phoenix has a median 2BR rent of $1,060, where Wilsonville is more than one-and-a-half times that price.