Navigating success for our clients since 1996
info@compasscommercial.com
Property Mgmt. (541) 330-0025
Main (541) 383-2444
Compass Commercial Real Estate Services Bend OR
  • Search Our Listings
  • What We Offer
    • Brokerage
    • Asset & Property Management
    • Construction Services
    • Market Report
  • Our Team
  • About Us
  • Contact Us
  • Search Our Listings
  • What We Offer
    • Brokerage
    • Asset & Property Management
    • Construction Services
    • Market Report
  • Our Team
  • About Us
  • Contact Us

News

Home/Advisor Insights/Rental Housing Vacancy Rate Update
Bear Creek Village Multifamily Property, Bend, Oregon

Rental Housing Vacancy Rate Update

by Compass Commercialon 3 June 2016in Advisor Insights

BEND, OR, June 3, 2016 – For the fourth year in a row, Central Oregon’s residential rental vacancy remained under 1.5%, coming in at 1.04%, according to the 2016 Rental Survey presented by the Central Oregon Rental Owners Association (COROA).

“That is a very low rate, and it is highly unusual for it to have stayed so low for that long,” said Ron Ross, CCIM of Compass Commercial Real Estate Services who last month presented the survey results at the COROA annual membership meeting.

Ross, who specializes in selling multifamily properties in Central Oregon, said vacancy rates are uniformly low across the board in all Central Oregon cities, citing influences such as high growth rate of the region, constrained land supply resulting in increased land costs, increasing entitlement fees and other building costs, as well as rents that simply have not kept up with costs over the years.

“It’s interesting to note that during the 26 years I’ve been tracking rental data,  the annual rate of rent increases has been 2.51% compared to the annual rate of increased housing cost of 5.35%,” said Ross. “On a positive note, the rate of increase for two bedroom apartments in Bend (the tracking metric) increased just less than 4% after three years of triple digit increases.”

Download the complete 2016 COROA Rental Survey HERE. Contact Ron Ross 541.322.1230 or by email rross@compasscommercial.com for more information on the survey results.

About Central Oregon Rental Owners Association
COROA is an organization of rental owners and managers who have joined together with a commitment to education and professionalism. Since 1979, COROA has been dedicated to helping rental owners and managers find and keep the best tenants, stay abreast of the latest rental laws, and protect their investments. Visit centraloregonrentalowners.org for more information.

About Compass Commercial Real Estate Services
Founded in 1996, Compass Commercial has helped buyers, sellers, landlords and tenants of commercial real estate property achieve their goals.  The company offers services in brokerage sales, leasing, asset and property management, business sales and construction services. Today, the company celebrates 20 years of serving Central Oregon’s business community, continuing a tradition of excellent client service and superior market intelligence. The team’s collective industry expertise includes Central Oregon’s only two Society of Industrial and Office Realtors (SIOR®) designees, 11 Certified Commercial Investment Members (CCIM), 3 Certified Property Manager (CPM®) designees and the distinguished Accredited Management Organization (AMO®) designation from the Institute of Real Estate Management.  Learn more at compasscommercial.com.  Follow us on Twitter @CompassCom.

Share this article
0
0
0
previous article

Central Oregon Commercial Real Estate Update

next article

A Retail Update and Bend’s Rental Housing Woes

Categories

  • Advisor Insights
    • Dan Kemp, CCIM
    • Howard Friedman CCIM
    • Jay Lyons, SIOR, CCIM
    • KBND Interviews
    • Pat Kesgard, CCIM
    • Peter May, CCIM
    • Ron Ross, CCIM
    • Steve Toomey, CCIM
  • Client Solutions/Case Studies
    • Business Sales
    • Construction Services
    • Property Management
    • Retail & Restaurants
    • Sales/Leasing
  • Compass Commercial News
    • Awards & Lists
    • Compass Cares
    • Press Releases
      • Business Sales
    • Transaction News
  • CRE Industry
  • Helpful Resources & Links
    • Community Resources
    • FAQ: Common CRE Questions
  • Investing in CRE
  • Local Economy & Community
    • Economic Development
  • Market Research
    • Central Oregon Multifamily News
    • Compass Points Market Report
  • Op Ed
  • Uncategorized

Get In Touch

  • 600 SW Columbia St., Suite 6100 Bend, OR 97702
  • 541-383-2444
  • info@compasscommercial.com
  • www.compasscommercial.com

Leave a Review

What We Offer

Services

Brokerage

Asset & Property Management

Construction Services

Featured Properties

Our Company

About Compass

Experience

Compass Cares

Our Team

Join the Team

Learn More

Market Report

CRE Resources

Press Releases

Client Stories

Construction Portfolio

Why Central Oregon

© Copyright 2020 Compass Commercial. Digital Marketing Agency Credit.

Signup for News & Listing Alerts   |    Contact Us   |    (541) 383-2444