Portland continues to be a popular destination for tourists and residents alike, and it’s not hard to see why. Our beautiful Pacific Northwest city enjoys the benefits of gorgeous summer weather, lush greenery, a fantastic outdoor recreation scene, and a mind-blowing food culture. With so much going for this area, who wouldn’t want to live here? And as Portland attracts more people each year, many people are beginning to consider property investment as a way to capitalize on and encourage the city’s growth. But whether you’re just starting out in property investment or are looking for the next big opportunity, an excellent place to start is by looking at the top neighborhoods for rental property investment in Portland.
At Rent Portland Homes by Darla Andrew, our years in the Portland Rental Market have given us a deep breadth of knowledge of the area’s specific quirks. Let’s explore some of the top neighborhoods to invest in a Portland rental property and the best ways to get started.
Southeast Portland
Currently, one of the most in-demand neighborhoods in Portland is the Southeast Portland area. Here you find charming old neighborhoods such as Laurelhurst, active commercial areas, lovely parks, and a range of rental prices.
Many neighborhoods in Southeast Portland are old and established. Laurelhurst, for instance, is known for its tree-lined streets and beautiful homes with a quiet and residential feel. But despite that close-knit neighborhood feel, Laurelhurst is still a hop skip and a jump away from all of Portland’s best amenities. In addition, the median rent in Laurelhurst is around $2,000 per month, which is higher than many other Portland neighborhoods and presents an appealing possibility for profits. Low vacancy rates also mean that landlords in this area will likely have a steady stream of rental income, which helps protect their ROI.
Hawthorne is another highly desirable neighborhood in Southeast Portland. This neighborhood boasts a mixture of shops, eateries, coffee shops, and bars, surrounded by a stately line of beautiful historic homes. Similar to Laurelhurst, the median rent price is around $2,100, making this an appealing option for landlords looking to invest.
All in all, a rental property investment in Portland’s Southeast quadrant is a great way to secure a solid property in high demand that will bring in a steady stream of income.
Hillsboro
Of the many neighborhoods in the outlying areas around Portland’s center, Hillsboro is a top choice for many renters. This fast-growing city is home to tech companies like Intel, providing a stable job market that supports local rental prices. This area is also growing quickly. It’s a great option for people who want to settle close enough to Portland to enjoy its many benefits, while staying insulated from the hustle and bustle of the city. In Hillsboro, you’re already at a great jumping-off point to enjoy Portland’s many vineyards. Plus it’s just a quick drive to the coast without fighting through the traffic in downtown Portland.
For people interested in settling down with a family, Hillsboro’s highly-rated public school system is a big appeal. Lastly, Hillsboro is known for its solid transportation infrastructure, offering easy access to Portland’s MAX stops, bus lines, and major highways in the area.
Alberta
One of the things that makes Portland such an appealing destination for new residents is its eclectic arts scene. And you’re not going to find a more vibrant or exciting place to dive into all the Portland arts have to offer than Alberta street. In many ways, Alberta is the quintessential Portland neighborhood, with a thriving commercial thoroughfare providing lots of excellent opportunities for shopping, dining, and entertainment.
The Alberta area tends to have a lower median home price and a competitive rental market. This means that property investors can find a stable foothold in the neighborhood.
North Portland
North Portland hosts several desirable neighborhoods that rental investors should consider. These areas have experienced an explosion of development in recent years, which makes them an exciting prospect for landlords who want to follow the trends where growth is most vital.
Kenton is an exciting up-and-coming neighborhood in North Portland with a thriving business district and a tight-knit community of entertainment and eateries. You may also recognize Portland’s famous logger statue at the start of Kenton’s business district. As Kenton’s property values have been increasing in recent years as the area develops, this is a great time for real estate investors to enter the market and capitalize on home values while they’re still low, as the trajectory shows they will likely increase rapidly in the years to come.
St. Johns is another neighborhood north of downtown Portland worth considering for investment. Home to the Cathedral Park Jazz Festival and with a mixture of different house types, Portland renters are drawn to this neighborhood by its more affordable prices. This makes it a good starter area for landlords who want to choose a place for a first investment in Portland.
Which Neighborhood For Rental Property Investment In Portland?
No matter where you look in Portland, you’ll find a multitude of amazing opportunities for rental investments right now. But for landlords looking to break into the market, it can be challenging to know where to begin. One of the best things to do is consider your budget, priorities, and schedule before deciding which neighborhood to invest in. At Rent Portland Homes by Darla Andrew, we can help you navigate that critical decision and get set up with a rental property investment in Portland that will bring you a solid return on investment without the hassle of self-managing. You can count on our sterling team to help ensure your rental property is managed to the highest standards. If you’d like to learn more, call or text Darla Andrew today at (503) 515-3170.