Bend house rents steady, apartment rents are rising
Published 5:00 am Thursday, November 1, 2007
In Bend, rents on single-family homes have remained stable through the year, partly because owners put hundreds of homes on the rental market when they failed to sell, said Dave Ulrickson, Plus Property Management broker and general manager.
Apartment rents, on the other hand, rose 5 percent to 6 percent through the summer, driven by high demand from newcomers to the area who opted to “wait the market out to see what happens before they buy and invest,” Ulrickson said.
Plus Property Management found spaces for 18 to 22 renters per month in 2006, Ulrickson said, but that pace has risen to between 32 and 38 a month this year.