Portland Apartment Construction - Permits on the Rise

Monthly permits for new apartments peaked in mid-2017 and were trending down. However, since August 2018, apartment permits have been on the rise. The chart below shows number of units that have been permitted monthly in Portland Metro. The average since 2016 is around 700 units per month. This is somewhat surprising given the increased headwinds (construction costs, IH, etc.) faced by the development community.

Posted on April 12, 2019 .