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14 Jul, 2026
Analysis | Latest
This week the Radius+ team took a closer look at the Portland-Vancouver-Hillsboro, OR-WA CBSA.
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Written by James McLean

James McLean is the Head of Business Development at Radius+. James helps maintain external relationships with clients and assisting internally with the sales process. He also, manages internal data processes working alongside the operations team to ensure we are supporting high level data quality.

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Historical Supply Growth in Portland-Vancouver-Hillsboro, OR-WA CBSA:

2018: 6.3%

2019: 11.6%

2020: 6%

2021: 2.4%

2022: 1.4%

2023: 0%

2024: 1.4%

2025: 1%

2026: .04%

The Portland metropolitan area saw substantial overbuilding during the 2017 to 2020 cycle, with large volumes of new supply delivered in 2019. Even so, population movement from the city into surrounding suburbs helped support demand and keep rental rates stable. Unlike many Sunbelt markets, Portland did not experience a major pandemic migration surge, which led to more measured supply growth from 2020 through 2025. This moderation, paired with steady suburban population growth, has allowed rental rates to improve at a healthy pace and has created a more balanced supply environment than in past cycles.