Vancouver rents held steady over the past month but are up 1.6 percent year-over-year, putting the city ahead of both the state and national averages, according to a recent report from the online service Apartment List.
Median rents in Vancouver are reported to be $1,400 for a one-bedroom apartment and $1,650 for a two-bedroom, matching the two-bedroom cost and exceeding the one-bedroom cost of apartments in Seattle. Vancouver’s median rates also exceed those of Portland, which are reported at $1,120 for a one-bedroom apartment and $1,320 for a two-bedroom.
Portland saw rents decline by 0.6 percent in 2018, according to a separate Apartment List report, making it the seventh-fastest declining rent among the 100 biggest U.S. cities. The Portland metro area saw the opposite trend, with most of the surrounding cities showing rising rents over the past year.
Rent growth was 1.3 percent at the national level, compared to 2.8 percent in 2017. The trend indicates that rent growth is stabilizing and tightness in the rental market is easing up, according to Apartment List, although Portland was one of the few cities to see a decrease in rental rates this year.
