Portland and Seattle Home Prices Are Rising Faster Than Anywhere Else in the Country

Prices are rising at twice the rate of the rest of the United States.

A new report suggests that housing prices in Portland and Seattle are raising at twice the rate of other cities.

According to the latest report on the Case-Shiller home price index, Seattle reported the highest increase of among 20 major cities: an 11 percent year-over-year increase. Portland followed closely at 10.9 percent.

The U.S. average? 5.5 percent.

The price increase is also happening to rent prices.

Related: Portland Renters Feeling the Squeeze, While Homeowners See Values Rise: Portland's State of Housing Report

Earlier this week, the Portland Housing Bureau released their second annual State of Housing report, which found that for the fourth straight year, Portland has seen rental price increases by more than 5 percent. Since 2012, average rent is up 30 percent, while the real income of renters has actually dropped since 2000.

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