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Seattle, Portland Rents Trail Midwest Peers Despite Near-Identical Apartment Supply Since 2023

November 3, 20263 Mins read7
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Apartment buildings in Seattle with the Space Needle in the background
Photo by Runkai Zhang on Unsplash
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ApartmentIQ figures for the 53 largest U.S. metros show Seattle and Portland expanded their apartment stock at almost exactly the same pace as Milwaukee, Indianapolis and St. Louis since 2023, yet the two Pacific Northwest markets are producing a fraction of the rent growth their Midwest counterparts are posting.

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