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.
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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