Axio: Portland, Ore., New No. 1 for Rent Growth

California and Florida place a number of metros in the top 25.

By Les Shaver

© John Floyd; www.flickr.com/photos/plannerjohn365 St. Johns Bridge, Portland, Ore.

The West has dominated the list of top U.S. apartment markets for more than a year now.

That didn’t change in the third quarter of 2015, according to Axiometrics. But the top rent-growth market did, moving north, from California to Portland, Ore., which grabbed the top spot with a ridiculous 14.8% growth.

Nonetheless, California remained well represented, with seven metros in the research and data analysis firm’s list of top 25 apartment markets. Resurgent Florida also did well.

Here’s the complete list from Axio:

MSA/Metropolitan Division Annual Effective-Rent Growth
1. Portland-Vancouver-Hillsboro, OR-WA 14.8%
2. Oakland-Hayward-Berkeley, CA 13.7%
3. San Francisco-Redwood City-South San Francisco, CA 11.8%
4. Denver-Aurora-Lakewood, CO 10.0%
5. San Jose-Sunnyvale-Santa Clara, CA 9.9%
6. Sacramento-Roseville-Arden-Arcade, CA 9.7%
7. Seattle-Bellevue-Everett, WA 7.9%
8. Orlando-Kissimmee-Sanford, FL 7.6%
9. San Diego-Carlsbad, CA 7.3%
10. Phoenix-Mesa-Scottsdale, AZ 7.2%
10. Riverside-San Bernardino-Ontario, CA 7.2%
12. Nashville-Davidson-Murfreesboro-Franklin, TN 6.9%
13. Fort Worth-Arlington, TX 6.8%
14. Las Vegas-Henderson-Paradise, NV 6.7%
14. Atlanta-Sandy Springs-Roswell, GA 6.7%
16. Los Angeles-Long Beach-Glendale, CA 6.6%
17. West Palm Beach-Boca Raton-Delray Beach, FL 6.2%
17. Fort Lauderdale-Pompano Beach-Deerfield Beach, FL 6.2%
19. Tampa-St. Petersburg-Clearwater, FL 6.1%
19. Dallas-Plano-Irving, TX 6.1%
21. Jacksonville, FL 6.0%
21. Charlotte-Concord-Gastonia, NC-SC 6.0%
23. Raleigh, NC 5.8%
24. Salt Lake City, UT 5.7%
25. Boston-Cambridge-Newton, MA-NH 5.6%

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