Situated amid the Pacific Northwest’s natural splendor, Portland, Oregon, offers all its residents a world of recreation, culture, and delight. That’s part of what makes Portland such an appealing city for rental owners looking to help our beautiful city grow. If you’re interested in getting started in the Portland rental market or looking to expand your current portfolio, you’re probably wondering what community to buy in. After all, you want to capitalize on the fastest-growing Portland neighborhoods with amenities that will attract tenants.
So how do you know how—and more specifically, where—to get started? At Rent Portland Homes, our experience have given us the expert insight to guide your next rental property to success.
The Top 5 Neighborhoods For Your Next Rental Property
Each Portland community has its respective charms. But when it comes to the hottest neighborhoods for rental owners to invest in, we have the data you need.
1. Southeast Portland
When we look at our rental data, it’s clear that Southeast Portland rentals are flying off the market. This community sports several old and picturesque neighborhoods with old-growth trees, numerous parks, and quick access to commercial thoroughfares with all the shopping and dining Portland has to offer.
Stroll around the Hawthorne neighborhood, and you’ll see a wide selection of well-kept Victorian homes, cute Craftsman bungalows, and Old Portland Four-Square styles. In the Laurelhurst neighborhood, stately historic homes with large yards share tree-lined streets and an island of quiet amidst the bustle of the city. Homes in Southeast Portland usually rent for about $2,100 a month, putting them comfortably above the median for the area. In addition, the low vacancy rates in the Southeast mean landlords can expect a steady income stream without worrying about extended vacancies.
2. The Pearl District
The Pearl District has long been one of Portland’s hottest neighborhoods for rental owners. Though once this district was dedicated to warehouses, those buildings have long since become a haven for shoppers, diners, and artists. The broad-reaching options in the Pearl District mean this community offers something for everyone. Maybe that’s why Niche rates Pearl in the top three Portland neighborhoods to live in. The exciting nightlife, eclectic dining opportunities, and quick access to downtown Portland mean the Pearl District is especially attractive to young professionals. And since the majority of Pearl residents rent their homes, there’s an excellent opportunity for rental owners to dive into a thriving market.
3. St. John’s
North Portland may not have the glitz and glamor of the Pearl District, but don’t let that fool you. Properties in this community are highly desirable due to their excellent location for transit and their more affordable rents. If you’re looking for a starter property in Portland, look in the North Portland neighborhoods.
One of those areas, in particular, is the St. John’s neighborhood. St. John’s has seen slow but steady growth over the years, and the pace of development has recently begun to increase. Historically, St. John’s has sported affordable rents and a small but vibrant community; however, the neighborhood’s lack of economic investment once reduced its overall appeal. Now, St. John’s is at the beginning of what could be a renaissance. While housing prices are still lower than in other parts of Portland, fresh growth and a new sense of excitement have made this area a hot place to be. With cozy shops, numerous restaurants, and a close-knit neighborhood feel, now is a great time to capitalize on the growth trends in the St. John’s neighborhood.
4. Kenton
When you think of classic Portland sights, what do you envision? Bridges, quirky shops, the Naked Bike Ride—and, of course, the enormous lumberjack statue that calls the Kenton neighborhood home. And like the famous statue, Kenton is a slice of what makes Portland special and unique. Kenton is a small, unassuming neighborhood in North Portland that is currently in the midst of a growth spurt. Housing prices have begun to increase along with new developments in the area, which means that this is a great time to jump into the market while it’s on the upswing.
5. Beaverton
There’s a good reason that Beaverton is one of the most sought-after neighborhoods in the Portland metro area, especially for families. Beaverton is one of the safest neighborhoods in Portland, with a smorgasbord of cuisines to suit every palate and shops both local and nationwide. The rental site Niche places Beaverton within the top five school districts in Oregon for diversity and overall quality, also ranking within the top ten for great places in Oregon to teach. With an overall A- grade and a 50-50 split of renters to owners, Beaverton is a great place to invest in a larger rental property that a new family could call home.
How Do You Know Where To Invest? Work With The Experts
Choosing the right rental property is critical, whether it’s your first or your fifteenth. While you can research the best community and try to strike where the iron is hottest, a good location isn’t enough to guarantee the long-term success of your rental. It all comes down to how your rental is managed, more than simply where it’s located. While a hot apartment in the Pearl District might ensure you always have interested tenants, you could still find yourself undercutting your bottom line with an excess of repair jobs, tenant turnover, and ineffective marketing.
So, what can you do to set yourself up for rental success? The smart move is to work with a property manager. As Portland’s premier property management company, Rent Portland Homes by Darla Andrew would be honored to be your partner. We leverage our top-notch experience and hard-working team to ensure you have the best experience as a rental owner in Portland. We take care of all property management duties you don’t want to deal with while providing the flexibility for you to step in if you ever miss the hands-on approach.
From finding tenants to dealing with evictions, you can count on our professional management to keep your rental profitable and in excellent condition. Wherever you rent in Portland, we’d love to help you manage your property to the highest standard. If you’d like more information, call or text Darla Andrew today at (503) 515-3170 or drop us a line on our website.