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Portland saw the highest percent increase in the US for multifamily units permitted in 2017

•Portland had the 9th most multifamily units permitted in the country in 2017. 9,979 multifamily units were issued permits in 2017, an increase of 42.3 percent from 2016’s 7,014 units.

•The increase of 2,965 permitted units was the 2nd most in the nation after New York with 6,855 more units than
the previous year.

•Portland’s increase in permitted units comes as the nation as a whole experienced a decrease of 1.5 percent
in 2017.

•Despite the dramatic escalation in permits being approved for new multifamily units, single-family home permits dropped 9.0 percent year-over-year.

•The surge in multifamily permitted units can be directly correlated to the Inclusionary Zoning (IZ) law that took effect on February 1st, 2017. The policy requires developments with 20 or more units to set aside 20 percent of those units for households making less than 80 percent of the median family income, or 10 percent of units for households making 60 percent of the median income. In response to this new zoning, the City saw a surge of permit applications at the end of 2016 by developers hoping to gain approval before the program took effect.

Source: JLL Research, Axiometrics ​

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