Annual maximum rent increase jumps 14.6% in 2023; some renters say its an eviction notice
By Christina Giardinelli and KATU Staff
SALEM, Ore. — Increases in the cost of living in Oregon show no signs of letting up. Officials announced next year Oregon landlords will be allowed to increase rent by almost 15%.
In 2019, Oregon lawmakers passed a law that caps rent increases.
They can't go up more than 7% plus the annual consumer price index. That last number adjusts with inflation, which is why it's so high this year.
For 2022 the cap was 9.9%, in 2023 it goes up to 14.6%.
To put that into perspective, an Oregon renter paying 2000 dollars a month could see an increase of up to $292 a month. Oregon’s minimum wage employees, working 40 hours a week, net (before taxes) about 2100 a month.
Advocates for tenants say these types of rent increases are turning into evictions which are putting more people onto the streets without housing.