By Coty Thurman, October 3, 2024
Find out what’s happening in the Portland rental market for early October 2024.
Hi, I’m Coty Thurman, Principal Broker and Vice President of Living Room Property Management here to tell you what you need to know about the Portland rental market for early October 2024.
2025 Rent Increase Cap
Oregon’s 2025 rent increase cap is out, and it’s holding steady at 10% (9.9% in Portland). No big surprises here—it’s the same as last year. It may not seem exciting, but in a market where things can change quickly, a little predictability is welcome for both landlords and tenants. Keeping things status quo isn’t the worst news.
Now, onto the bigger picture. According to the 2024 ‘Baselane’ Real Estate Investor Survey, investors are optimistic but cautious. Vacancy concerns? Down. Over 52% of investors are less worried about vacancies because rental demand is still strong. The real headache? Home prices and financing. According to the National Association of Realtors, home prices jumped 4.2% year-over-year…a term coined “equity” for those playing the game and “impossible” for those who have not entered the housing market.
Institutional Investors vs Mom and Pop Owners
This brings us to a key difference in the market: large institutional investors vs. mom-and-pop landlords.
The big guys—those institutional investors—are still excited, snatching up nearly 19% of U.S. homes sold in Q1 of this year. They’ve got the resources to ride out the challenges and turn a profit.
But let’s talk about the mom-and-pop owners—the ones we work with at Living Room. These folks make up a lot of the single-family inventory. Many are holding onto their golden 3% interest rates, but they’re being hit hard by rising costs of insurance, taxes, and maintenance. Regulations make it tough for them to sell or even move back into their own homes when a tenant’s lease is up.
Honestly, I get it—this $**t is tough, but for those who can hold on, there’s still a lot of potential for long-term equity growth and the single-family tenant market is not going away.
What About Renters?
On the renter side, the number one question I hear is: “How hard is it to find a home right now?” If you’re looking for a 2-3 bedroom single-family home with a yard under $3K, buckle up. Even homes on busy streets are going fast with multiple applications. But if you’re open to an apartment or privately-owned condo, you’re in luck. Inventory is solid, and there are some great concessions out there.
It reminds me of the early 2000s when we were giving away two months of free rent and our fingers were in knots after putting another epic balloon bouquet on the street corner luring people in for an apartment tour.
To wrap things up: whether you’re an investor or a mom-and-pop owner, now’s the time to evaluate your strategy. Being a landlord in today’s market isn’t for everyone, but for those who stick it out, there’s plenty of opportunity.
Make A Move
If you need help navigating these choppy waters, Living Room Property Management is here to help smooth out the seas, call us today.
Coty Thurman
President & Licensed Principal Broker of Property Management | OR & WA
She/Her
Helping property owners navigate Portland’s rental market with strategy, ethics, and real-world experience.
I’ve spent more than two decades in residential rental management, and if there’s one thing I know for sure, it’s that property management is never just about the property — it’s about people, strategy, and doing things the right way.
As President of Living Room Property Management, my work is centered on helping property owners and tenants thrive through thoughtful systems, clear communication, and ethical housing practices. I love the problem-solving side of this industry — translating complex laws into practical strategies, building processes that support both people and performance, and helping owners make confident decisions about their homes.
People usually call me when they want to talk through the strategy of being a rental property owner. Whether it’s selling a tenant-occupied home, navigating a tough tenant situation, pricing a property, deciding on upgrades, or figuring out the right time to lease, I help people think through the long game. After 25+ years in the industry, I’ve likely encountered a version of your situation before and can offer perspective to support your overall strategy.
I’m passionate about sharing rental trends through both national data and insights from our own portfolio of homes. The hyper-local Portland–Vancouver market is our specialty, and our team is deeply committed to helping housing providers understand both the laws and the realities of our local market.
Industry leadership and community involvement are an important part of my work. I serve as a board member of the Greater Portland chapter of the National Association of Residential Property Managers (NARPM) and had the honor of serving as the 2025 Board President. I’m also a dedicated member of Multifamily NW and the Oregon Realtist community — a group of professionals across the real estate industry working to foster inclusive collaboration, support underserved communities, and create pathways toward greater Black and minority homeownership in Oregon.
I hold property management licenses in both Oregon and Washington and am grateful to manage homes throughout the Portland–Vancouver metro area.
A few things you should know about me: I won’t help anyone get around the law. Ethical housing practices are non-negotiable. And I won’t speak negatively about our city or our neighborhoods — I believe deeply in this community and wouldn’t choose to do this work anywhere else.
Portland is home. I grew up in Montavilla and attended Marshall High School, and today I’m raising my family in the east metro area with my high-school-sweetheart-turned-husband, our kids, and our dog. Outside of work, you’ll usually find me enjoying live comedy or theater, exploring great food, or singing along (loudly) to the Hamilton soundtrack on a scenic drive.
At the end of the day, my goal is simple: help people become thoughtful, confident housing providers — and make room for them to live.