On this episode of Running On Air, Portland District 3 candidates Tiffany Koyama Lane, Matthew Anderson, Chris Flanary and Jon Walker sit down with KBOO's Cory Elia to discuss their campaigns for city office, and the issues that matter to Portlanders most.
Of note: One of our listeners asked about the possibility of placing a penalty on vacant apartments in Portland. During this discussion, Jon Walker said that Portland had a very low vacancy rate, under 3%. We did a little digging, and it's a bit more complicated than that. Here's an excerpt from MultiFamily NW's report this spring: "The report reveals a marked increase in vacancies since the fall report, with rates climbing from 5.47% to 6.17%. ...the urban core, particularly NW and Downtown Portland, is experiencing higher vacancy rates, with NW at 8.7% and Downtown Portland at 7.48%. Studios in Downtown Portland have surpassed a 12% vacancy rate, while St. Johns has emerged as the market with the highest vacancy, exceeding 9%." This Willamette Week article speaks to the vacancy rate as well: Metro Portland Apartment Vacancies Rise, but Rents Don’t Fall. Their reporting points out that typically, a higher vacancy rate would be good for renters -- when supply outpaces demand, prices should fall.
Related links:
https://teachertiffanyforthepeople.com/
https://www.chrisforportland.com/
https://www.walkerforportland.com/
https://mrandersonfor3.org/
