MYNORTHWEST NEWS

Report: Seattle renters flock to Portland as growing tech hub

Jun 14, 2019, 8:03 AM | Updated: 10:54 am

Portland...

Portland, Oregon. (AP)

(AP)

According to a new report, Seattle renters are flocking to Portland, Oregon, as an alternative to the Emerald City’s ever-increasing cost of housing.

Seattle leads nation with more wealthy renters than homeowners

A “migration report” from Apartment List details 7.9 percent of Seattle’s renters headed south to live in Portland, the most of any city.

“West Coast tech workers look to Portland as a more affordable alternative to San Francisco and Seattle,” the report reads. It goes on to note that “Seattle is the 2nd most common source of inbound searches to Portland,” behind only San Francisco.

Twenty-seven percent of Seattle renters are also categorized as “looking to leave.”

Interestingly enough, Seattle is the third most popular destination for renters leaving San Francisco, only trailing behind Portland and Salt Lake City.

As for why Seattle renters are headed to Portland, the report cites “some of the nation’s most robust tech sectors” as one of the driving factors.

“The fact that Portland is attracting so much interest from these areas portends continued expansion of the metro’s already growing tech scene, as a subset of workers in San Francisco and Seattle seek out opportunities in places with more affordable housing costs.”

Seattle rents rising at pace behind national average, as units flood market

That, paired with Portland boasting the country’s fourth highest slice of work-from-home employees, makes it an attractive option for tech workers fleeing Seattle’s high cost of living.

Renting in Seattle, by the numbers

Median rent in Seattle has increased in each of the last five months, up 0.3 percent month-over-month in May, and 1.3 percent year-over-year. That’s left median rent for a one-bedroom apartment at a robust $1,340 a month, and $1,670 for a two-bedroom.

Comparatively, median one-bedroom rent in Portland only increased by just 0.2 percent year-over-year in May. Median one-bedroom rates in the Rose City currently sit at $1,125. Two-bedrooms will run you just $1,328.

California continues to be the most expensive state to rent in, with 23 cities out of 25 with the highest median one-bedroom rental prices.

MyNorthwest News

Photo: Sequim....

Nate Connors

Annual Washington Coast Cleanup looking for volunteers ahead of Earth Day

The Washington Coast Cleanup is held every year on the Saturday before Earth Day. This year it's Saturday, April 22.

1 hour ago

Photo: A Pierce County teacher was arrested in connection to child molestation....

Julia Dallas

Pierce County elementary school teacher arrested in connection to child molestation

According to the sheriff's department, a student at Evergreen Elementary School in Lake Bay made a report to deputies on February 26.

2 hours ago

Basil is seen in grocery store. (Photo by Jakub Porzycki/NurPhoto via Getty Images)...

Bill Kaczaraba

Trader Joe’s recall: Salmonella found in basil

The Centers for Disease Control and Prevention (CDC) has issued a food safety alert following an outbreak of Salmonella infections.

2 hours ago

Photo: A new vending machine at an Arlington high school is offering students free meals....

Julia Dallas

Arlington school breaks barriers one vending machine meal at a time

Weston High School now offers a vending machine with free breakfast or lunch for students who miss a meal.

3 hours ago

The WNBA's Seattle Storm opens new facility in Interbay. (Seattle Storm X post)...

By TIM BOOTH AP Sports Writer

Seattle Storm unveil new Interbay practice facility, alternative uniforms

SEATTLE (AP) — Alisha Valavanis walked around as the new performance center for the Seattle Storm was unveiled on Thursday filled mostly with joy and a little sadness. The joy for the CEO of the Storm — who has been with the team for nearly a decade — came from helping bring to completion the […]

3 hours ago

Starbucks noise...

Bill Kaczaraba

‘What’d you say?’: Starbucks attempts to tamp down the noise

The coffee retailer, Starbucks, aims to reduce noise levels and enhance accessibility through strategic changes.

6 hours ago

Report: Seattle renters flock to Portland as growing tech hub