HFO Multifamily Marketwatch for Oregon and SW Washington

In this HFO interview with Mark, we discuss why housing production is stalling, what's driving Oregon's population slowdown, and whether the state's new condo rules will move the needle on housing production.

This week we're tracking policy shifts, new state laws, and early signs of momentum in the multifamily market as we head into the new year.

In this episode, we're diving into an unglamorous but absolutely critical topic: plumbing systems in aging apartment stock—and how to know when you're just fixing leaks versus when it's time to fully repipe. Our expert voice today is Matt Dorn, Senior Project Manager with Caliber Mechanical. Matt's been in the trade for about thirty years, starting as an 18-year-old apprentice and working his way...

Today we're talking about a topic that's getting a lot of buzz in development circles: mass timber: what it is, why capital cares, and what it could mean for your multifamily portfolio. Our guide and source today is Noel Johnson from the Bates Center for Entrepreneurship & Leadership at Lewis & Clark College. Noel has spent more than twenty years in development, starting his career at Trammell Cro...

In today's episode, we're turning our attention to Washington State. From new rent control laws to mixed market signals across Seattle, Spokane, and beyond. Then we'll take a quick scan of the national apartment landscape: vacancy spikes, rate pressure, and why some buyers are biding their time.

In this episode, we're looking at a shifting landscape. Rents are cooling and vacancies are rising. Portland city hall just discovered it had $21 million it forgot to spend. 

Angela Wilhelms, President and CEO of Oregon Business and Industry (OBI), discussed the organization's role in advocating for businesses at the state level. OBI recently released a report ranking Oregon as the nation's seventh most regulated state, with 179,000 regulations, many of which are excessive and burdensome. Wilhelm highlighted that 74% of small businesses struggle to keep up with changin...

In this episode, EcoNorthwest's Emily Picha reveals how the recent report, "All In on Central City," outlines over 100 projects and public-private strategies that are reigniting investment and livability in downtown Portland.

Economist Joe Cortright of City Observatory joins us to unpack the U.S. economy's slowing growth, Oregon's dependence on migration and trade, and the risks posed by costly infrastructure projects and volatile tax revenues.

Amy Vander Vliet, regional economist for the Oregon Employment Division, discussed Portland's economic status. The metro area's economy has experienced four phases: pandemic loss, recovery, stagnation, and some recent decline. Construction and manufacturing sectors have been the hardest hit. National trends, federal job losses, and migration policies influence the economy. Future challenges includ...

For today's episode, we will be discussing the Fall 2025 Multifamily NW Apartment Report. I will be summarizing the highlights from this year's report: where we've been, where we're heading, and what the numbers suggest about the state of multifamily housing across Oregon and Southwest Washington. 

Today's episode takes a closer look at the ripple effects of the ongoing federal government shutdown here in Washington State—and specifically, how missed paychecks and halted programs are impacting renters and landlords in our region.

Isaac Jones, CPA with Perkins & Co., discusses the evolution and benefits of Opportunity Zones, highlighting the initial confusion caused by the 2017 Tax Cuts and Jobs Act and the subsequent impact of the pandemic. The new Opportunity Zone Act 3 (OZ 3) makes the program permanent, providing more clarity and certainty. Investors must recognize a capital gain within 180 days and invest in a Qualifie...

In this episode, HFO Partner Greg Frick interviews Tom Rinehart, executive director of Oregon Smart growth. Oregon Smart Growth focuses on ways to help solve the state's housing supply crisis. The organization promotes solutions elected leaders, including Portland's mayor and the City Council.

In this episode, HFO Partner Greg Frick interviews Andrea Bell, the director of Oregon Housing and Community Services, who provides the latest update on what is happening at the agency charged with measuring accountability and statewide progress on Oregon's goal of building 36,000 housing units per year. 

Our focus this week will be on the highlights, including vacancy and rent trends, new construction activity, and investor insights across the Portland metro, Willamette Valley , and Southwest Washington markets. 

In today's episode we're diving into the Q3 2025 update for Washington's multifamily market by submarket. Whether you own a handful of units or manage thousands across the state, this episode is for you.

With office vacancies soaring, the idea of converting commercial buildings into housing sounds like a win-win—but is it feasible? In this video, Ezra Hammer unpacks the legal and logistical hurdles of office-to-residential conversions, from zoning and building code constraints to floorplate challenges and financing gaps. While popular in theory, conversions often face major headwinds—especially in...

Monique Claiborne, CEO of Greater Portland Inc., offers a compelling economic case for investing in the Portland metro area. From robust job creation in tech and advanced manufacturing to a favorable talent pipeline fueled by remote work trends, Claiborne highlights why Greater Portland remains a magnet for employers and investors. This video is a must-watch for multifamily owners evaluating long-...

In this insightful interview, land use attorney Ezra Hammer breaks down California's use of the "Builders' Remedy" law and its potential application in Oregon. He explains how the legal framework bypasses local zoning when jurisdictions fail to meet state-mandated housing goals—enabling developers to push through multifamily projects without traditional entitlements. Hammer explores the risks, cou...

In this episode of Multifamily Marketwatch, HFO's Senior Data Analyst Michael Pierce breaks down three major regulatory changes reshaping the apartment investment landscape in Washington State. Tune in to learn what multifamily property owners must do to comply with the new Clean Buildings Tier 2 law, how Senate Bill 5184 is eliminating costly parking mandates, and why Washington's Transit-Oriente...

In this episode of Multifamily Marketwatch, Michael Pierce explores Oregon's latest push to ramp up housing construction and investment. With five new laws signed by Governor Tina Kotek—including fast-tracked permitting, infrastructure funding, and support for modular and mixed-income housing—developers are finding new opportunities across the state. Plus, hear about Eugene's plan for 520 units of...

Charlie Kokernak of Gantry Inc. delivers a practical, forward-looking take on the multifamily lending environment heading into 2026. Touching on interest rates, debt yields, refinancing pain, and lender sentiment, Kokernak helps multifamily investors understand what to expect in both agency and private lending markets. With institutional sales slow and distress brewing in some segments, this conve...

Today's episode explores vacancy taxes, a topic that several Portland City Council members are currently discussing. Some argue the proposal can help reduce vacant properties across the city. But is it really the solution to our housing crisis, or are they simply looking at a policy that sounds promising but falls short?

In this episode of Multifamily Marketwatch, Michael Pierce dives into Portland's multifamily market as it begins to stabilize after years of volatility. With vacancy rates trending down, absorption picking up, and construction slowing to a crawl, what does this mean for investors and developers? Tune in for a positive outlook on Portland's market and how strategic patience may be the key to succes...