Portland Metro Makes Forbes 2018 Annual Fastest Growing Cities List
Forbes has once again put out its list for the fastest growing cities in the US. This year, the Portland metropolitan area including Portland, Hillsboro and Vancouver made it onto the list at number 17. An 8 place drop from 2017.
Forbes takes population growth, employment, wages and economic output into account and here’s how we currently stand up to the competition:
Population growth 2017: 1.66% (19)
Proj. pop. growth 2018: 1.23% (31)
Job growth 2017: 2.13% (30)
Proj. job growth 2018: 2.39% (16)
GMP growth 2017: 2.97% (32)
Proj. GMP growth 2018: 5.17% (6)
Wage growth 2017: 4.68% (19)
Proj. wage growth 2018: 7.54% (2)
Home price growth 2017: 9.98% (15)
Proj. home price growth 2018: 2.60% (80)
Rank 2017: 9
Boise Idaho takes the number 1 spot this year moving up 10 places on the list, while Seattle remains a close second climbing 5 places from its previous number 7 spot.
With the Portland metro area dropping 8 places since last years list it’s interesting to see why. While job growth remains steady we’re leading the nation in wage growth. Great jobs are and rising house prices make the Portland Metro area a great place for investors to snap up real estate for cash flow investment opportunities. First time homebuyers are still struggling in the sweet spot between 300k-500k and this is further compounding the housing shortage and affordability problem.
While interest rates continue to rise we’re expecting to see a sharp increase in home sales during the 2nd quarter of 2018 as investors and home buyers look to secure the best rates making this a strong sellers market for the 3rd year in a row.
Ettro Capital is committed to buying unused or under utilized vacant land to create new homes and communities in the area. Our current projects in Salem, Happy valley and Tigard are set to create over 100 new housing units within the next 18-24 months with projects in La Center.
If you would like more information about our real estate investment fund, what we do and how we do it, please don’t hesitate to contact us using the link above, we’ll be happy to discuss your investment needs.