Rent hikes capped at 14.6% for most Oregonians next year, the highest since limits passed
By Meagan Cuthill (OPB)
In a state with one of the most challenging housing crunches in the country, Oregon renters could face the highest possible maximum increase since the Legislature enacted limits on rent hikes three years ago.
Starting Jan. 1, 2023, landlords in Oregon may legally increase rents by up to 14.6%. This year, the cap is 9.9% – marking a 4.7 percentage point jump from one year to the next.
According to apartment rental company Zumper, the average rent as of Tuesday for a 1-bedroom residence in Portland is $1,500 per month. In 2023, the same unit could climb to up to $1,719 monthly – costing its renters $2,628 more for the year – if their landlord decides to institute the 14.6% maximum increase.
How did the state reach this rate for 2023?