This morning I am presenting at the Spring 2018 Multifamily NW Apartment Report event. The big picture takeaway from the Portland rental market is something like the following. The continued supply of new apartments is beginning to result in a rising vacancy rate, and the flattening of rents. In fact 7 of the 20 submarkets covered in the report saw rents decline. For renters and the overall economy, this is a welcome respite from the affordability problems in the past decade. When coupled with ongoing household income gains, it means housing affordability is set to improve in the coming years.