Descriptive, not causal
How Portland Compares
This page places Portland beside peer cities on outcomes people argue about: homelessness, shelter capacity, downtown office vacancy, and population. Every figure links to its source. These are descriptive comparisons — they show where Portland stands, not why, and they cannot by themselves prove that any policy or leader caused an outcome. Where cities measured differently, the difference is flagged next to the number it affects.
Context
A new form of government, January 2025
On January 1, 2025, Portland's commission government — five citywide commissioners each running a city bureau — was replaced under the charter reform voters approved in November 2022 (Measure 26-228). The new charter created a 12-member council elected by ranked-choice voting from four districts (three councilors each), a mayor elected citywide who does not sit on the council, and a professional city administrator. Series on this page that include a period in 2025 or later cover both forms of government; the mark ‡‡ flags a period under the new one.
Homelessness
Point-in-time counts
Portland's HUD point-in-time count went from 4,015 in 2019 to 10,526 in 2025 ‡‡, the most recent year published. No count was published for 2020 or 2021.
HUD counts by Continuum of Care are county-scale regions, not city limits, and Portland changed its counting method in 2022 and again in 2025.
Portland, all published years — 5 years
| Year | Total | Sheltered | Unsheltered | Unsheltered share | Per 1,000 |
|---|---|---|---|---|---|
| 2019 | 4,015* | 1,978* | 2,037* | 50.7%* | —† |
| 2022 | 5,228‡ | 2,171‡ | 3,057‡ | 58.5%‡ | 6.6§ |
| 2023 | 6,297‖ | 2,353‖ | 3,944‖ | 62.6%‖ | 7.9¶ |
| 2024 | 7,384# | 3,440# | 3,944# | 53.4%# | 9.3# |
| 2025‡‡ | 10,526# | 3,614# | 6,912# | 65.7%# | 13.2# |
* HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/23/2019. Safe Haven programs are included in the Transitional Housing category.
† Not available: this city has not published a figure for this period.
‡ HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/26/2022. Safe Haven programs are included in the Transitional Housing category.
§ HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/26/2022. Safe Haven programs are included in the Transitional Housing category. Denominator: 796,165 residents of the CoC's county (FIPS 41051), Census PEP vintage 2025 July 1 2022 estimate.
‖ HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/24/2023. Safe Haven programs are included in the Transitional Housing category. Methodology: 2,340 of Multnomah County's 2023 unsheltered figure came from a by-name list of administrative records rather than an in-person street survey (PSU 2025 PITC report, Table 6).
¶ HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/24/2023. Safe Haven programs are included in the Transitional Housing category. Methodology: 2,340 of Multnomah County's 2023 unsheltered figure came from a by-name list of administrative records rather than an in-person street survey (PSU 2025 PITC report, Table 6). Denominator: 793,778 residents of the CoC's county (FIPS 41051), Census PEP vintage 2025 July 1 2023 estimate.
# HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/30/2024. Safe Haven programs are included in the Transitional Housing category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text.
# HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/30/2024. Safe Haven programs are included in the Transitional Housing category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text. Denominator: 794,472 residents of the CoC's county (FIPS 41051), Census PEP vintage 2025 July 1 2024 estimate.
# HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report). Cross-checked against Multnomah County's own 2025 PITC report (10,526 people): the two sources agree.
# HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report).
# HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report). Denominator: 795,391 residents of the CoC's county (FIPS 41051), Census PEP vintage 2025 July 1 2025 estimate.
8-city comparison — 2025
HUD's annual point-in-time count, 2025‡‡ — the most recent year published across these 8 cities. Portland is pinned first.
| City | Total counted | Per 1,000 CoC residents | Unsheltered share |
|---|---|---|---|
| Portland, OR | 10,526* | 13.2† | 65.7%‡ |
| Seattle, WA | 16,936§ | 7.2‖ | 57.9%§ |
| San Francisco, CA | 8,671¶ | 10.5# | 50.2%¶ |
| Denver, CO | 10,774# | —# | 19.9%# |
| Austin, TX | 3,240# | 2.3# | 48.7%# |
| San Diego, CA | 9,905# | 3.0# | 57.7%# |
| Phoenix, AZ | 9,734# | 2.1# | 53.5%# |
| Minneapolis, MN | 3,078# | 2.4# | 13.9%# |
* HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report). Cross-checked against Multnomah County's own 2025 PITC report (10,526 people): the two sources agree.
† HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report). Denominator: 795,391 residents of the CoC's county (FIPS 41051), Census PEP vintage 2025 July 1 2025 estimate.
‡ HUD point-in-time count, CoC OR-501 (Portland, Gresham/Multnomah County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Methodology change: Multnomah County drew its 2025 unsheltered count primarily from a by-name list of administrative records; 5,090 of 10,526 people were 'presumed unsheltered' via records match rather than counted in person (PSU 2025 PITC report).
§ HUD point-in-time count, CoC WA-500 (Seattle/King County), count night 1/30/2025. Safe Haven programs are included in the Emergency Shelter category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text.
‖ HUD point-in-time count, CoC WA-500 (Seattle/King County), count night 1/30/2025. Safe Haven programs are included in the Emergency Shelter category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text. Denominator: 2,344,939 residents of the CoC's county (FIPS 53033), Census PEP vintage 2025 July 1 2025 estimate.
¶ HUD point-in-time count, CoC CA-501 (San Francisco), count night 1/28/2025. Safe Haven programs are included in the Emergency Shelter category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text.
# HUD point-in-time count, CoC CA-501 (San Francisco), count night 1/28/2025. Safe Haven programs are included in the Emergency Shelter category. Unsheltered figure carried forward — identical to the prior published count, no fresh street count this year. HUD marks the Unsheltered and Total columns with '**' in this report; the per-CoC PDF does not print the footnote text. Denominator: 826,079 residents of the CoC's county (FIPS 06075), Census PEP vintage 2025 July 1 2025 estimate.
# HUD point-in-time count, CoC CO-503 (Metropolitan Denver), count night 1/27/2025. Safe Haven programs are included in the Emergency Shelter category. Per-capita rate omitted: multi-county CoC pending a verified county list, and dividing a multi-county count by one county's population would overstate it.
# Not available: this city has not published a figure for this period.
# HUD point-in-time count, CoC CO-503 (Metropolitan Denver), count night 1/27/2025. Safe Haven programs are included in the Emergency Shelter category.
# HUD point-in-time count, CoC TX-503 (Austin/Travis County), count night 1/25/2025. Safe Haven programs are included in the Emergency Shelter category.
# HUD point-in-time count, CoC TX-503 (Austin/Travis County), count night 1/25/2025. Safe Haven programs are included in the Emergency Shelter category. Denominator: 1,389,670 residents of the CoC's county (FIPS 48453), Census PEP vintage 2025 July 1 2025 estimate.
# HUD point-in-time count, CoC CA-601 (San Diego City and County), count night 1/29/2025. Safe Haven programs are included in the Emergency Shelter category.
# HUD point-in-time count, CoC CA-601 (San Diego City and County), count night 1/29/2025. Safe Haven programs are included in the Emergency Shelter category. Denominator: 3,282,248 residents of the CoC's county (FIPS 06073), Census PEP vintage 2025 July 1 2025 estimate.
# HUD point-in-time count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), count night 1/27/2025. Safe Haven programs are included in the Emergency Shelter category.
# HUD point-in-time count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), count night 1/27/2025. Safe Haven programs are included in the Emergency Shelter category. Denominator: 4,689,558 residents of the CoC's county (FIPS 04013), Census PEP vintage 2025 July 1 2025 estimate.
# HUD point-in-time count, CoC MN-500 (Minneapolis/Hennepin County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category.
# HUD point-in-time count, CoC MN-500 (Minneapolis/Hennepin County), count night 1/22/2025. Safe Haven programs are included in the Emergency Shelter category. Denominator: 1,284,784 residents of the CoC's county (FIPS 27053), Census PEP vintage 2025 July 1 2025 estimate.
Counting caveats
Shelter capacity
Shelter beds
Portland's published shelter bed capacity went from 2,648 in 2023 to 4,187 in 2025 ‡‡, the most recent year published.
"Sheltered per bed" is a derived proxy — people counted in shelters on the count night divided by year-round beds — not an occupancy rate.
8-city beds by type — 2025
Published bed capacity by type, 2025‡‡.
| City | Year-round ES | Seasonal / overflow | Transitional | Combined | Sheltered per bed |
|---|---|---|---|---|---|
| Portland, OR | 3,350* | 0† | 817‡ | 4,187§ | 0.86‖ |
| Seattle, WA | 5,958¶ | 127# | 1,712# | 7,746# | 0.92# |
| San Francisco, CA | 4,351# | 80# | 486# | 4,837# | 0.89# |
| Denver, CO | 5,491# | 2,835# | 1,943# | 7,493# | 1.15# |
| Austin, TX | 1,442# | 40# | 437# | 1,894# | 0.88# |
| San Diego, CA | 3,587# | 44# | 1,328# | 5,010# | 0.84# |
| Phoenix, AZ | 4,136# | 36# | 1,432# | 5,613# | 0.81# |
| Minneapolis, MN | 1,990# | 759# | 383# | 2,373# | 1.12# |
* HUD Housing Inventory Count, CoC OR-501 (Portland, Gresham/Multnomah County), January 2025. Year-round emergency shelter beds.
† HUD Housing Inventory Count, CoC OR-501 (Portland, Gresham/Multnomah County), January 2025. 0 seasonal + 0 overflow/voucher beds; these are on top of the year-round inventory.
‡ HUD Housing Inventory Count, CoC OR-501 (Portland, Gresham/Multnomah County), January 2025. Year-round transitional housing beds.
§ HUD Housing Inventory Count, CoC OR-501 (Portland, Gresham/Multnomah County), January 2025. Includes 20 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
‖ Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC OR-501 (Portland, Gresham/Multnomah County), January 2025.
¶ HUD Housing Inventory Count, CoC WA-500 (Seattle/King County), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC WA-500 (Seattle/King County), January 2025. 44 seasonal + 83 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC WA-500 (Seattle/King County), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC WA-500 (Seattle/King County), January 2025. Includes 76 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC WA-500 (Seattle/King County), January 2025.
# HUD Housing Inventory Count, CoC CA-501 (San Francisco), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC CA-501 (San Francisco), January 2025. 50 seasonal + 30 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC CA-501 (San Francisco), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC CA-501 (San Francisco), January 2025. Safe Haven beds: none reported this year. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC CA-501 (San Francisco), January 2025.
# HUD Housing Inventory Count, CoC CO-503 (Metropolitan Denver), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC CO-503 (Metropolitan Denver), January 2025. 1,001 seasonal + 1,834 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC CO-503 (Metropolitan Denver), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC CO-503 (Metropolitan Denver), January 2025. Includes 59 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC CO-503 (Metropolitan Denver), January 2025.
# HUD Housing Inventory Count, CoC TX-503 (Austin/Travis County), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC TX-503 (Austin/Travis County), January 2025. 20 seasonal + 20 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC TX-503 (Austin/Travis County), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC TX-503 (Austin/Travis County), January 2025. Includes 15 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC TX-503 (Austin/Travis County), January 2025.
# HUD Housing Inventory Count, CoC CA-601 (San Diego City and County), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC CA-601 (San Diego City and County), January 2025. 44 seasonal + 0 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC CA-601 (San Diego City and County), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC CA-601 (San Diego City and County), January 2025. Includes 95 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC CA-601 (San Diego City and County), January 2025.
# HUD Housing Inventory Count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), January 2025. 0 seasonal + 36 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), January 2025. Includes 45 Safe Haven beds. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC AZ-502 (Phoenix, Mesa/Maricopa County), January 2025.
# HUD Housing Inventory Count, CoC MN-500 (Minneapolis/Hennepin County), January 2025. Year-round emergency shelter beds.
# HUD Housing Inventory Count, CoC MN-500 (Minneapolis/Hennepin County), January 2025. 90 seasonal + 669 overflow/voucher beds; these are on top of the year-round inventory.
# HUD Housing Inventory Count, CoC MN-500 (Minneapolis/Hennepin County), January 2025. Year-round transitional housing beds.
# HUD Housing Inventory Count, CoC MN-500 (Minneapolis/Hennepin County), January 2025. Safe Haven beds: none reported this year. HUD's own Emergency/Safe Haven/Transitional combined year-round total, not a sum we computed.
# Derived: PIT-night sheltered persons / year-round ES/SH/TH beds. HUD publishes no cross-city occupancy rate; local dashboards use incompatible definitions. HUD Housing Inventory Count, CoC MN-500 (Minneapolis/Hennepin County), January 2025.
Measurement caveats
Downtown & metro
Office market
Two different measurements of the same broad question, kept in clearly separate sub-blocks: brokerage-reported downtown/CBD figures (A) describe a narrower submarket; CommercialEdge's metro-wide series (B) covers a much larger area under a different methodology, buildings 25,000 sf and larger. Neither substitutes for the other, and this page never averages or compares the two as if they were one number.
Portland's downtown/CBD office vacancy (Cushman & Wakefield, overall) stood at 32.5% as of 2026-Q2; the broader metro-wide vacancy (CommercialEdge) stood at 21.7% as of 2025-04.
Downtown/CBD and metro-wide are different universes and are never compared directly; the roughly nine-year gap in the downtown series, mid-2015 to early 2024, reflects records not retrievable from the archived source, not a claim that vacancy held flat.
A. Downtown offices, brokerage-reported (Cushman & Wakefield)
Cushman & Wakefield's downtown/CBD submarket, OVERALL vacancy (includes sublease space), same quarter across cities where C&W publishes a downtown breakout. Coverage is ragged — some quarters exist for only a subset of cities — and every metro shares a roughly nine-year archive hole; see the caveat box at the end of this section.
Downtown/CBD vacancy by city — 15 quarters
| City | 2013-Q2 | 2013-Q3 | 2013-Q4 | 2014-Q1 | 2014-Q3 | 2014-Q4 | 2015-Q1 | 2015-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1‡‡ | 2025-Q2‡‡ | 2025-Q3‡‡ | 2025-Q4‡‡ | 2026-Q2‡‡ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portland, OR | —* | —* | —* | —* | 10.5%† | 9.7%‡ | 9.5%§ | 9.7%‖ | 28.9%¶ | 28.5%# | 29.7%# | —* | 31.1%# | —* | 32.5%# |
| Seattle, WA | —* | —* | —* | —* | —* | —* | —* | —* | 33.6%# | 34.1%# | —* | 35.6%# | 36.5%# | 36.6%# | 37.7%# |
| San Francisco, CA | —* | —* | —* | —* | —* | 8.2%‡ | 7.5%§ | 7.4%‖ | —* | —* | —* | —* | —* | —* | —* |
| Denver, CO | —* | —* | —* | —* | —* | —* | —* | —* | —* | 33.3%# | 33.6%# | 34.6%# | 34.9%# | 35.4%# | 35.4%# |
| Austin, TX | —* | —* | —* | —* | —* | —* | —* | —* | 30.0%¶ | 30.0%# | 30.4%# | 29.5%# | 32.0%# | —* | 31.0%# |
| San Diego, CA | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* |
| Phoenix, AZ | 23.1%# | 22.8%# | 22.4%# | 20.4%# | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* |
| Minneapolis, MN | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | 33.8%# | 33.8%# | —* | 32.6%# | 32.1%# |
* Not available: this city has not published a figure for this period.
† Cushman & Wakefield MarketBeat, Q3 2014 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
‡ Cushman & Wakefield MarketBeat, Q4 2014 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
§ Cushman & Wakefield MarketBeat, Q1 2015 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
‖ Cushman & Wakefield MarketBeat, Q2 2015 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
¶ Cushman & Wakefield MarketBeat, Q3 2024 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2024 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2025 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2025 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space.
# Cushman & Wakefield MarketBeat, Q3 2024 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2024 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2025 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "Seattle CBD" as C&W labels it, overall (total) vacancy including sublet space.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2013 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2013 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2013 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2014 office report; submarket "CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2025 office report; submarket "Minneapolis CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "Minneapolis CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "Minneapolis CBD" as C&W labels it, overall (total) vacancy including sublet space. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "Minneapolis CBD" as C&W labels it, overall (total) vacancy including sublet space.
Downtown/CBD asking rent, overall (Cushman & Wakefield)
C&W's downtown/CBD overall average asking rent, all classes, nominal dollars per square foot per year. Eight metros' rents span a wide dollar range — wide enough that a shared line mostly shows which metros are expensive rather than any shape worth reading — so this chart is Portland-only; every metro's own latest figures are in the table beneath it.
Downtown/CBD rent by city — 15 quarters
| City | 2013-Q2 | 2013-Q3 | 2013-Q4 | 2014-Q1 | 2014-Q3 | 2014-Q4 | 2015-Q1 | 2015-Q2 | 2024-Q3 | 2024-Q4 | 2025-Q1‡‡ | 2025-Q2‡‡ | 2025-Q3‡‡ | 2025-Q4‡‡ | 2026-Q2‡‡ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portland, OR | —* | —* | —* | —* | $24.42† | $25.59‡ | $25.95§ | $26.56‖ | $35.29¶ | $35.31# | $35.25# | —* | $35.25# | —* | $33.54# |
| Seattle, WA | —* | —* | —* | —* | —* | —* | —* | —* | $47.12# | $47.60# | —* | $47.91# | $47.73# | $48.93# | $48.17# |
| San Francisco, CA | —* | —* | —* | —* | —* | $63.05‡ | $64.70§ | $66.08‖ | —* | —* | —* | —* | —* | —* | —* |
| Denver, CO | —* | —* | —* | —* | —* | —* | —* | —* | —* | $39.43# | $39.50# | $40.08# | $40.14# | $39.85# | $39.85# |
| Austin, TX | —* | —* | —* | —* | —* | —* | —* | —* | $61.56¶ | $62.00# | $62.28# | $61.98# | $64.44# | —* | $64.79# |
| San Diego, CA | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* |
| Phoenix, AZ | $20.47# | $20.38# | $20.91# | $21.12# | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* |
| Minneapolis, MN | —* | —* | —* | —* | —* | —* | —* | —* | —* | —* | $32.50# | $32.44# | —* | $32.43# | $32.87# |
* Not available: this city has not published a figure for this period.
† Cushman & Wakefield MarketBeat, Q3 2014 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
‡ Cushman & Wakefield MarketBeat, Q4 2014 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
§ Cushman & Wakefield MarketBeat, Q1 2015 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
‖ Cushman & Wakefield MarketBeat, Q2 2015 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
¶ Cushman & Wakefield MarketBeat, Q3 2024 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2024 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2025 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2025 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at.
# Cushman & Wakefield MarketBeat, Q3 2024 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2024 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2025 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "Seattle CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2013 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q3 2013 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2013 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2014 office report; submarket "CBD" as C&W labels it. "OVERALL WTD. AVG ALL CLASSES GROSS RENTAL RATE" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q1 2025 office report; submarket "Minneapolis CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2025 office report; submarket "Minneapolis CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q4 2025 office report; submarket "Minneapolis CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Cushman & Wakefield's own page links a rolling five-quarter window and nothing older, and the archive holds no office MarketBeat at all for these metros between mid-2015 and mid-2024.
# Cushman & Wakefield MarketBeat, Q2 2026 office report; submarket "Minneapolis CBD" as C&W labels it. "OVERALL AVG ASKING RENT (ALL CLASSES)" — all building classes, asking, $/sf/year. Not a transacted rent: it is what space was being advertised at.
Portland CBD, direct vacancy (Kidder Mathews)
A second, Portland-only source corroborating the C&W figures above. Kidder Mathews reports DIRECT vacancy — excluding sublease space — a different definition than C&W's OVERALL figure above, so the two are never plotted on the same chart or compared as a single number. Kidder's asking rent is stored only for quarters where the firm's own header labeling is unambiguous, so it may run shorter than the vacancy series even once both are backfilled.
Portland, all published quarters — 10 quarters
| Quarter | Direct vacancy |
|---|---|
| 2022-Q3 | 19.4%* |
| 2022-Q4 | 18.9%† |
| 2023-Q1 | 19.3%‡ |
| 2023-Q2 | 19.9%§ |
| 2023-Q4 | 22.0%‖ |
| 2024-Q1 | 23.0%¶ |
| 2024-Q2 | 23.4%# |
| 2024-Q4 | 24.1%# |
| 2025-Q2‡‡ | 25.7%# |
| 2026-Q2‡‡ | 27.7%# |
* Kidder Mathews Portland office market report, 3Q 2022; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
† Kidder Mathews Portland office market report, 4Q 2022; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
‡ Kidder Mathews Portland office market report, 1Q 2023; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
§ Kidder Mathews Portland office market report, 2Q 2023; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
‖ Kidder Mathews Portland office market report, 4Q 2023; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
¶ Kidder Mathews Portland office market report, 1Q 2024; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
# Kidder Mathews Portland office market report, 2Q 2024; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
# Kidder Mathews Portland office market report, 4Q 2024; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
# Kidder Mathews Portland office market report, 2Q 2025; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap.
# Kidder Mathews Portland office market report, 2Q 2026; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology.
Kidder Mathews CBD asking rent, where reported — 1 quarters
| Quarter | Asking rent |
|---|---|
| 2026-Q2‡‡ | $27.24* |
* Kidder Mathews Portland office market report, 2Q 2026; "CBD" submarket as Kidder labels it. DIRECT vacancy — space empty and offered by the landlord. This is NOT the same measure as the Cushman & Wakefield office_vacancy_downtown series, which is OVERALL vacancy and also counts sublet space; the two are never merged, averaged or checked against each other. Portland only: Kidder publishes no peer city on this methodology. Asking rent is $/sf/year, full service gross.
B. The metro office market (CommercialEdge, metro-wide)
CommercialEdge's metro-wide series, buildings 25,000 sf and larger — a different, much larger universe than the downtown/CBD submarkets in A above, never compared to them directly. CommercialEdge's publisher is currently bot-blocked, so this series is Wayback-sourced; this series currently ends at April 2025 and will resume once the block lifts.
Metro office sale price
Average price per square foot of closed sale transactions, per CommercialEdge's own methodology — a metro average, not an appraisal, a listing price, or a single-building figure. This chart is Portland-only, for the same reason as the downtown rent chart in A: eight metros' sale prices per square foot span too wide a dollar range for a shared line to show more than "Portland is not the extreme." Every metro's latest figure is in the table below.
Portland, every published month — 29 months
| Month | Vacancy | Asking rent | Sale price / sf |
|---|---|---|---|
| 2020-11 | 12.4%* | $28.88* | $261.00* |
| 2020-12 | 12.5%† | $29.66† | $357.00† |
| 2021-03 | 15.0%‡ | $30.17‡ | $129.00‡ |
| 2021-05 | 16.0%§ | $29.48§ | $266.00§ |
| 2021-09 | 13.7%‖ | $29.97‖ | $246.00‖ |
| 2022-03 | 13.0%¶ | $28.20¶ | $194.00¶ |
| 2022-11 | 15.6%# | $28.65# | $191.00# |
| 2022-12 | 17.3%# | $30.46# | $191.00# |
| 2023-01 | 17.3%# | $30.91# | $0.00# |
| 2023-02 | 14.6%# | $27.99# | $0.00# |
| 2023-03 | 16.7%# | $29.36# | —# |
| 2023-05 | 15.7%# | $29.69# | $251.00# |
| 2023-09 | 16.6%# | $28.61# | $180.00# |
| 2023-11 | 15.9%# | $28.15# | $187.00# |
| 2023-12 | 15.6%# | $28.34# | $187.00# |
| 2024-02 | 16.0%# | $27.66# | $0.00# |
| 2024-03 | 16.8%# | $27.84# | $152.00# |
| 2024-04 | 16.2%# | $27.22# | $184.00# |
| 2024-05 | 16.5%# | $27.50# | $229.00# |
| 2024-06 | 17.1%# | $27.56# | $182.00# |
| 2024-07 | 17.1%# | $27.09# | $178.00# |
| 2024-08 | 20.1%# | $27.11# | $172.00# |
| 2024-09 | 19.9%# | $27.00# | $132.00# |
| 2024-10 | 22.1%# | $28.25# | $131.00# |
| 2024-11 | 22.1%# | $28.19# | $164.00# |
| 2025-01‡‡ | 21.6%# | $28.25# | $102.00# |
| 2025-02‡‡ | 21.8%# | $28.10# | $129.00# |
| 2025-03‡‡ | 21.2%# | $28.26# | $129.00# |
| 2025-04‡‡ | 21.7%# | $28.25# | $148.00# |
* CommercialEdge National Office Report, December 2020 edition, data as of November 2020; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
† CommercialEdge National Office Report, January 2021 edition, data as of December 2020; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
‡ CommercialEdge National Office Report, April 2021 edition, data as of March 2021; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
§ CommercialEdge National Office Report, June 2021 edition, data as of May 2021; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
‖ CommercialEdge National Office Report, October 2021 edition, data as of September 2021; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
¶ CommercialEdge National Office Report, May 2022 edition, data as of March 2022; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, December 2022 edition, data as of November 2022; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, January 2023 edition, data as of December 2022; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, February 2023 edition, data as of January 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, March 2023 edition, data as of February 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, April 2023 edition, data as of March 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# Not available: this city has not published a figure for this period.
# CommercialEdge National Office Report, June 2023 edition, data as of May 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, October 2023 edition, data as of September 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, December 2023 edition, data as of November 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, January 2024 edition, data as of December 2023; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, March 2024 edition, data as of February 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, April 2024 edition, data as of March 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, May 2024 edition, data as of April 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, June 2024 edition, data as of May 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, July 2024 edition, data as of June 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, August 2024 edition, data as of July 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, September 2024 edition, data as of August 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, October 2024 edition, data as of September 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, November 2024 edition, data as of October 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, December 2024 edition, data as of November 2024; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, February 2025 edition, data as of January 2025; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, March 2025 edition, data as of February 2025; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, April 2025 edition, data as of March 2025; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
All 8 metros, latest published month
Each column uses that metric's own most recently published month; a metro missing a given month renders "—".
| Metro | Vacancy (2025-04) | Asking rent (2025-04) | Sale price / sf (2025-04) |
|---|---|---|---|
| Portland, OR | 21.7%* | $28.25* | $148.00* |
| Seattle, WA | 27.0%† | $39.03† | $120.00† |
| San Francisco, CA | 29.0%‡ | $64.19‡ | $325.00‡ |
| Denver, CO | 24.7%§ | $30.92§ | $99.00§ |
| Austin, TX | 28.9%‖ | $45.90‖ | $221.00‖ |
| San Diego, CA | 22.6%¶ | $43.36¶ | $364.00¶ |
| Phoenix, AZ | 18.3%# | $28.76# | $195.00# |
| Minneapolis, MN | 16.0%# | $26.19# | $66.00# |
* CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Portland" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
† CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Seattle" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
‡ CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "San Francisco" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
§ CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Denver" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
‖ CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Austin" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
¶ CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "San Diego" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Phoenix" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
# CommercialEdge National Office Report, May 2025 edition, data as of April 2025; market "Twin Cities" as CommercialEdge names it. METRO-WIDE: every office building of 25,000 sf and up across the whole metro, not a downtown cut — never comparable with the C&W or Kidder CBD series. Listing rates are full-service (or full-service-equivalent) ASKING rates for space available in the report period, $/sf/year; the sale price is the year-to-date average $/sf of recorded sales. History note: this figure was read from an Internet Archive capture of the publisher's own file, which is the only public route to it now. The archive's holdings are uneven, so a gap in this series means 'not retrievable', never 'not published' and never zero. No period is interpolated across a gap. Source access note: since 2025 the publisher's site answers automated clients with a bot challenge rather than the file, so this series is assembled from the Internet Archive and currently ends at its last archived edition. The publisher URL is re-probed every refresh.
Reading this section
- "Overall" (Cushman & Wakefield) and "direct" (Kidder Mathews) vacancy are different definitions — overall includes space listed for sublease, direct does not. They are never shown on the same chart and never compared as a single number.
- Downtown/CBD (sub-block A) and metro-wide (sub-block B) are different universes — a submarket inside a metro versus the whole metro, buildings 25,000 sf and larger. This page never mixes the two or treats one as standing in for the other.
- The downtown/CBD series has a roughly nine-year archive hole, mid-2015 to early 2024, for every metro. The gap in the chart means the figure is not retrievable from the archived source for that stretch — it is not a claim that vacancy held steady, or that nothing happened downtown, in those years.
- Asking rents, both sources, are nominal dollars, not adjusted for inflation.
- Sale prices are metro averages of closed transactions per CommercialEdge's own methodology, not appraisals, listing prices, or single-building figures.
- No figure in this section describes any single building.
Population
Population & migration
Portland's city-proper population fell from 653,049 in 2020 to a low of 633,753 in 2023, then rose to 635,109 by 2025 ‡‡.
This chart is Portland CITY-PROPER (Census PEP); the table below is COUNTY population — a different universe, not directly comparable to the chart above.
Portland city-proper population — 6 years
| Year | Population |
|---|---|
| 2020 | 653,049* |
| 2021 | 642,866* |
| 2022 | 636,125* |
| 2023 | 633,753* |
| 2024 | 634,402* |
| 2025‡‡ | 635,109* |
* City of Portland (incorporated place). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
8-county population & migration — 2025
County population, 2025‡‡, and change since 2020; each city's latest published net domestic migration for the same county.
| City (county) | Population (2025‡‡) | Change since 2020 | Net domestic migration |
|---|---|---|---|
| Portland, OR | 795,391* | −2.6% | −1,931† |
| Seattle, WA | 2,344,939‡ | +3.1% | −9,079§ |
| San Francisco, CA | 826,079‖ | −5.6% | −137¶ |
| Denver, CO | 740,613# | +3.2% | −8,023# |
| Austin, TX | 1,389,670# | +7.2% | −6,590# |
| San Diego, CA | 3,282,248# | −0.6% | −23,876# |
| Phoenix, AZ | 4,689,558# | +5.5% | +941# |
| Minneapolis, MN | 1,284,784# | +0.2% | −703# |
* Multnomah County (FIPS 41051). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
† Multnomah County (FIPS 41051), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
‡ King County (FIPS 53033). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
§ King County (FIPS 53033), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
‖ San Francisco County (FIPS 06075). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
¶ San Francisco County (FIPS 06075), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Denver County (FIPS 08031). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Denver County (FIPS 08031), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Travis County (FIPS 48453). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Travis County (FIPS 48453), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# San Diego County (FIPS 06073). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# San Diego County (FIPS 06073), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Maricopa County (FIPS 04013). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Maricopa County (FIPS 04013), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Hennepin County (FIPS 27053). Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
# Hennepin County (FIPS 27053), net domestic migration component of change for the year ending July 1, 2025. Census PEP Vintage 2025, July 1 estimate. Each vintage restates prior years; this series is one vintage throughout and must never be mixed with another.
Tax base
High earners and the tax base
Multnomah County's Preschool for All tax and Metro's Supportive Housing Services tax both apply to personal income above $125,000 (single filers) or $200,000 (joint filers). Neither the IRS nor the Census Bureau publishes a county-level $125,000 breakpoint, so the series below counts residents in the closest published income brackets instead — IRS tax returns with $200,000 or more in adjusted gross income, and, where published, Census survey households at $125,000+ and $200,000+. These are counts of people in a bracket, not a measurement of either tax.
See also: Who moves in, who moves out — county-to-county migration returns and AGI.
Multnomah County's share of tax returns with AGI ≥ $200,000 rose from 3.2% in tax year 2011 to 8.5% in tax year 2022.
Multnomah County, tax years 2011–2022
IRS Statistics of Income: county-level administrative counts of filed returns, shown for every published tax year.
IRS Statistics of Income counts federal AGI; Oregon DOR's county tables, where published, count state AGI — a different definition applied to a different universe of filers, not a like-for-like line.
Multnomah County, all published tax years — 12 years
| Tax year | Returns ≥ $200k AGI | Share of all returns | Total AGI of those returns |
|---|---|---|---|
| 2011 | 11,656* | 3.2%* | $5,221,387,000* |
| 2012 | 13,280† | 3.6%† | $6,692,403,000† |
| 2013 | 14,590‡ | 3.9%‡ | $6,513,554,000‡ |
| 2014 | 16,700§ | 4.3%§ | $7,634,212,000§ |
| 2015 | 19,100‖ | 4.8%‖ | $8,941,642,000‖ |
| 2016 | 20,440¶ | 5.2%¶ | $9,423,515,000¶ |
| 2017 | 22,710# | 5.7%# | $10,518,309,000# |
| 2018 | 25,550# | 6.3%# | $11,631,050,000# |
| 2019 | 26,910# | 6.4%# | $12,401,998,000# |
| 2020 | 27,370# | 6.5%# | $12,638,236,000# |
| 2021 | 33,580# | 8.2%# | $16,575,087,000# |
| 2022 | 34,740# | 8.5%# | $14,932,066,000# |
* IRS SOI county income data, tax year 2011 (returns filed 2012). AGI class '$200,000 or more' (agi_stub 7; the 2011 file used seven AGI classes, consolidated $1-$25,000). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
† IRS SOI county income data, tax year 2012 (returns filed 2013). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
‡ IRS SOI county income data, tax year 2013 (returns filed 2014). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
§ IRS SOI county income data, tax year 2014 (returns filed 2015). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
‖ IRS SOI county income data, tax year 2015 (returns filed 2016). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
¶ IRS SOI county income data, tax year 2016 (returns filed 2017). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2017 (returns filed 2018). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2018 (returns filed 2019). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2019 (returns filed 2020). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2020 (returns filed 2021). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2021 (returns filed 2022). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2022 (returns filed 2023). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
Share of returns ≥ $200k AGI, by county
Share is the figure comparable across counties of very different sizes; each county's own most recently published count rides alongside it as context, not necessarily from the same year as the share columns.
Share of returns ≥ $200k AGI, by county — table — 12 years
| County (city) | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | Latest count |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portland, OR | 3.2%* | 3.6%† | 3.9%‡ | 4.3%§ | 4.8%‖ | 5.2%¶ | 5.7%# | 6.3%# | 6.4%# | 6.5%# | 8.2%# | 8.5%# | 34,740# (2022) |
| Seattle, WA | 6.5%* | 7.5%† | 8.1%‡ | 9.2%§ | 10.0%‖ | 10.8%¶ | 12.3%# | 14.1%# | 15.0%# | 16.1%# | 19.1%# | 19.7%# | 226,280# (2022) |
| San Francisco, CA | 7.8%* | 8.9%† | 9.9%‡ | 11.4%§ | 12.5%‖ | 13.1%¶ | 14.6%# | 16.4%# | 17.4%# | 17.7%# | 20.9%# | 21.4%# | 93,710# (2022) |
| Denver, CO | 4.0%* | 4.6%† | 4.9%‡ | 5.6%§ | 6.0%‖ | 6.3%¶ | 7.0%# | 7.8%# | 8.0%# | 8.3%# | 10.1%# | 10.6%# | 41,250# (2022) |
| Austin, TX | 5.1%* | 5.3%† | 4.9%‡ | 6.4%§ | 7.3%‖ | 7.7%¶ | 8.8%# | 9.7%# | 10.1%# | 10.8%# | 13.7%# | 14.6%# | 93,210# (2022) |
| San Diego, CA | 4.2%* | 4.7%† | 5.0%‡ | 5.5%§ | 5.8%‖ | 6.2%¶ | 6.7%# | 7.5%# | 7.7%# | 7.9%# | 10.1%# | 10.8%# | 177,170# (2022) |
| Phoenix, AZ | 3.1%* | 3.5%† | 3.7%‡ | 4.0%§ | 4.4%‖ | 4.6%¶ | 5.0%# | 5.5%# | 5.7%# | 5.9%# | 7.6%# | 8.1%# | 171,070# (2022) |
| Minneapolis, MN | 5.5%* | 6.2%† | 6.4%‡ | 7.0%§ | 7.5%‖ | 7.6%¶ | 8.2%# | 8.9%# | 9.2%# | 9.3%# | 11.3%# | 11.8%# | 76,570# (2022) |
* IRS SOI county income data, tax year 2011 (returns filed 2012). AGI class '$200,000 or more' (agi_stub 7; the 2011 file used seven AGI classes, consolidated $1-$25,000). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
† IRS SOI county income data, tax year 2012 (returns filed 2013). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
‡ IRS SOI county income data, tax year 2013 (returns filed 2014). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
§ IRS SOI county income data, tax year 2014 (returns filed 2015). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
‖ IRS SOI county income data, tax year 2015 (returns filed 2016). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
¶ IRS SOI county income data, tax year 2016 (returns filed 2017). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2017 (returns filed 2018). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2018 (returns filed 2019). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2019 (returns filed 2020). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2020 (returns filed 2021). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2021 (returns filed 2022). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
# IRS SOI county income data, tax year 2022 (returns filed 2023). AGI class '$200,000 or more' (agi_stub 8). Counts are tax returns (filing units), not households or people. Bracket is nominal, not inflation-adjusted. IRS suppresses classes with under 20 returns.
Households by income — survey estimate (ACS)
Census American Community Survey 1-year estimates for Multnomah County — a survey, not an administrative count. Margins of error are noted per record where the Bureau publishes them.
No 2020 American Community Survey 1-year release was conducted, so the line breaks rather than crossing it.
Households by income, all published years — 8 years
| Year | Households ≥ $200k | Share ≥ $200k | Share ≥ $125k |
|---|---|---|---|
| 2016 | 23,833* | 7.4%* | 19.9%† |
| 2017 | 24,178‡ | 7.4%‡ | 20.9%§ |
| 2018 | 30,924‖ | 9.4%‖ | 23.9%¶ |
| 2019 | 33,731# | 10.0%# | 26.0%# |
| 2021 | 40,397# | 11.6%# | 28.7%# |
| 2022 | 47,023# | 13.6%# | 31.0%# |
| 2023 | 54,319# | 15.3%# | 32.7%# |
| 2024 | 56,432# | 16.0%# | 34.6%# |
* Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±2,096 households at 90% confidence.
† Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,634 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
‡ Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±2,236 households at 90% confidence.
§ Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,721 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
‖ Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±2,461 households at 90% confidence.
¶ Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,898 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±2,742 households at 90% confidence.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±4,427 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,070 households at 90% confidence.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±4,725 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,677 households at 90% confidence.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±5,469 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,293 households at 90% confidence.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±5,017 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±3,476 households at 90% confidence.
# Census ACS 1-year estimates, table B19001 (household income, survey estimate). ±5,654 households at 90% confidence. The margin is the three brackets' margins combined as the square root of the sum of their squares ($125,000-$149,999, $150,000-$199,999, $200,000 or more) — the Census Bureau's own method for a derived sum.
Counting-units caveats
Reading the numbers
Stock and flow: two true things at once
See also: Who moves in, who moves out and High earners and the tax base for the full tables behind this page.
This page's two kinds of series measure different things: the high-earner tables above count who lives in Multnomah County each year — a stock; the migration tables below count who moved in a given year — a flow. Both can be true at once: the county's high-earner count rose in every published year on this page, while net migration has been negative in every published year pair since 2019-2020. The full essay below quotes both state economists and both outside analyses, and adopts none of them.
Full essay: stock and flow, in the economists' own words
The two kinds of series on this page measure different things. The high-earner tables above count who lives in Multnomah County each year — a stock. The migration tables below count who moved in a given year — a flow. Both can be true at the same time: the county's high-earner count rose in every published year on this page, while net migration has been negative every year since the 2019-2020 filing-year pair.
Two Oregon state economists have addressed this pattern directly, in their own words. Former state economist Mark McMullen, in a November 2024 Willamette Week interview, said Multnomah County's high-earner households grew from roughly 40,000 in 2021 to about 55,000 in 2023, and attributed that growth to income increases moving existing households across the fixed $200,000 line rather than an inflow of new high earners. Current state economist Josh Lehner, in September 2023, wrote that Oregon out-migration was “negative across all broad income groups.”
Reported counts of Preschool for All filers have moved before. An April 2024 report, based on a preliminary data pull from November 2023, described the total number of PFA filers falling to 31,113 in tax year 2022. The county's own later, revised tables show 35,450 filers for tax year 2022 and 38,370 for tax year 2023 — both above the 2021 baseline of 32,941 (Multnomah County PFA tax statistic tables, as reported in the June 2025 fiscal migration analysis by economist Erik Dean, prepared for Portland City Councilor Mitch Green, and in the Portland Mercury, March 2026). Per the Mercury, the $500,000-and-above filer bracket fell about 14% in tax year 2022, held roughly flat in tax year 2023, and rose about 14% in tax year 2024; the county's own economist attributes those swings to late filing and year-to-year income volatility, not a steady trend in either direction. PFA figures less than about two years old have been revised upward more than once — treat any recent PFA figure as preliminary. These figures are cited in this paragraph rather than stored as pipeline data: the county publishes no stable, versioned public dataset for them.
The two most recent outside analyses of this question do not agree, and this page adopts neither. The June 2025 analysis discussed above, by economist Erik Dean, concludes the Preschool for All tax “is not driving households out.” An April 2026 academic working paper by Conway, Iselin, and Rork instead finds statistically significant increases in out-migration after the tax took effect, and estimates the county loses roughly $16 million a year in Preschool for All revenue to migration. This page reports the counts and the flows; it does not decide that question.
Movement
Who moves in, who moves out
IRS tax-return migration data counts filers whose county of residence changed between two consecutive filing years — a filer is recorded as an outflow from the old county and an inflow to the new one. A tax return approximates a household rather than a person: “individuals” counts the people listed on those returns, and adjusted gross income (AGI) is the movers' income as reported in the destination year's filing, in nominal dollars. This measures who moved between two counties in two specific years — it does not say why.
See also: High earners and the tax base.
Multnomah County net migration has been negative in every published year pair since 2019-2020; the latest published pair, 2022-2023, was −1,001 returns.
The IRS changed its return-matching methodology for the 2022-2023 filing-year pair, inflating matched returns by roughly 5% — read the most recent point in the charts below with that in mind.
Multnomah County, every published year pair
Net returns and net AGI — inflow minus outflow — for every year pair the pipeline has published. A positive figure means more moved into Multnomah than out; a negative figure means more moved out than in.
Multnomah County, every published year pair — table — 12 pairs
| Year pair | Net returns | Net AGI |
|---|---|---|
| 2011-2012 | +1,921* | −$79,829,000* |
| 2012-2013 | +1,592† | +$38,512,000† |
| 2013-2014 | +2,608‡ | +$54,558,000‡ |
| 2014-2015 | +3,279§ | +$135,915,000§ |
| 2015-2016 | +3,491‖ | +$246,062,000‖ |
| 2016-2017 | −1,066¶ | −$99,398,000¶ |
| 2017-2018 | +491# | −$133,012,000# |
| 2018-2019 | +1,291# | −$109,198,000# |
| 2019-2020 | −1,995# | −$392,427,000# |
| 2020-2021 | −5,591# | −$1,080,279,000# |
| 2021-2022 | −2,689# | −$1,218,093,000# |
| 2022-2023 | −1,001# | −$799,605,000# |
* IRS SOI county-to-county migration, 2011-2012: returns filed for tax year 2012 matched to the address the same filer used for 2011. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2012, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
† IRS SOI county-to-county migration, 2012-2013: returns filed for tax year 2013 matched to the address the same filer used for 2012. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2013, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
‡ IRS SOI county-to-county migration, 2013-2014: returns filed for tax year 2014 matched to the address the same filer used for 2013. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2014, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
§ IRS SOI county-to-county migration, 2014-2015: returns filed for tax year 2015 matched to the address the same filer used for 2014. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2015, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
‖ IRS SOI county-to-county migration, 2015-2016: returns filed for tax year 2016 matched to the address the same filer used for 2015. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2016, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
¶ IRS SOI county-to-county migration, 2016-2017: returns filed for tax year 2017 matched to the address the same filer used for 2016. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2017, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2017-2018: returns filed for tax year 2018 matched to the address the same filer used for 2017. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2018, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2018-2019: returns filed for tax year 2019 matched to the address the same filer used for 2018. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2019, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2019-2020: returns filed for tax year 2020 matched to the address the same filer used for 2019. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2020, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2020-2021: returns filed for tax year 2021 matched to the address the same filer used for 2020. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2021, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2021-2022: returns filed for tax year 2022 matched to the address the same filer used for 2021. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2022, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
# IRS SOI county-to-county migration, 2022-2023: returns filed for tax year 2023 matched to the address the same filer used for 2022. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2023, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Series break: for 2022-2023 the IRS updated its return-matching method and matched about 5% more returns than in earlier year-pairs, so part of the change from 2021-2022 is the method, not migration. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
Net migration by county, 2022-2023
8-county comparison table
| County (city) | Net returns | Net AGI |
|---|---|---|
| Portland, OR | −1,001* | −$799,605,000* |
| Seattle, WA | −1,324* | −$2,195,244,000* |
| San Francisco, CA | −913* | −$2,080,729,000* |
| Denver, CO | +2,016* | −$291,553,000* |
| Austin, TX | +647* | −$176,600,000* |
| San Diego, CA | −5,385* | −$223,577,000* |
| Phoenix, AZ | +5,261* | +$1,370,090,000* |
| Minneapolis, MN | −2,269* | −$1,106,226,000* |
* IRS SOI county-to-county migration, 2022-2023: returns filed for tax year 2023 matched to the address the same filer used for 2022. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2023, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Series break: for 2022-2023 the IRS updated its return-matching method and matched about 5% more returns than in earlier year-pairs, so part of the change from 2021-2022 is the method, not migration. Net = inflow minus outflow: a POSITIVE figure is a net gain for the county, a negative one a net loss.
Where Multnomah's movers went / came from
The eight counties with the most returns in each direction, 2022-2023. This counterparty detail is Multnomah-focal only — the pipeline does not extend it to the other 7 peer counties.
Multnomah counterparty detail, in and out — 2022-2023
| County | Returns | Individuals | AGI |
|---|---|---|---|
| Clackamas County | 4,847* | 8,002 | $488,501,000 |
| Washington County | 4,496* | 6,466 | $462,714,000 |
| Clark County | 2,886* | 4,587 | $282,474,000 |
| King County | 927* | 1,188 | $95,973,000 |
| Los Angeles County | 701* | 900 | $69,655,000 |
| Deschutes County | 553* | 839 | $73,453,000 |
| Marion County | 522* | 797 | $33,302,000 |
| Lane County | 452* | 576 | $25,918,000 |
* IRS SOI county-to-county migration, 2022-2023: returns filed for tax year 2023 matched to the address the same filer used for 2022. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2023, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Series break: for 2022-2023 the IRS updated its return-matching method and matched about 5% more returns than in earlier year-pairs, so part of the change from 2021-2022 is the method, not migration.
Other counties combined — the IRS's own same-state and different-state suppression subtotals, each an aggregate of flows under 20 returns; excludes foreign movers: 3,927 returns, 6,023 individuals, $296,065,000 AGI.
| County | Returns | Individuals | AGI |
|---|---|---|---|
| Washington County | 4,318* | 5,776 | $294,602,000 |
| Clackamas County | 3,825* | 5,524 | $246,055,000 |
| Clark County | 1,939* | 2,838 | $117,065,000 |
| Los Angeles County | 970* | 1,289 | $80,664,000 |
| King County | 805* | 1,042 | $73,715,000 |
| Lane County | 689* | 832 | $32,102,000 |
| Marion County | 611* | 816 | $28,325,000 |
| Maricopa County | 384* | 535 | $24,805,000 |
* IRS SOI county-to-county migration, 2022-2023: returns filed for tax year 2023 matched to the address the same filer used for 2022. A RETURN is a filing unit — the nearest thing tax data has to a household — and INDIVIDUALS is the people on those returns (the IRS's guides call this column 'exemptions' in the earlier years and 'individuals' in the later ones; it is the same column). AGI is the adjusted gross income those filers reported for 2023, in nominal dollars — income measured in the destination year, never inflation-adjusted here. County-to-county cells with fewer than 20 returns are withheld by the IRS and rolled into its 'Other flows' buckets, so the named-county lines understate small moves. Series break: for 2022-2023 the IRS updated its return-matching method and matched about 5% more returns than in earlier year-pairs, so part of the change from 2021-2022 is the method, not migration.
Other counties combined — the IRS's own same-state and different-state suppression subtotals, each an aggregate of flows under 20 returns; excludes foreign movers: 3,953 returns, 5,200 individuals, $229,651,000 AGI.
IRS measurement caveats
Side by side, not cause and effect
The SHS tax and shelter capacity, side by side
What the Supportive Housing Services tax collected and what shelter capacity and counts did over the same period. These figures sit side by side; this page draws no causal line between them.
Portland shelter beds, combined total
Combined beds: 2,648 (2023 ) → 4,187 (2025 ‡‡) — trend chart in Shelter beds.
Year by year — 3 years
| Year | Beds |
|---|---|
| 2023 | 2,648 |
| 2024 | 3,820 |
| 2025‡‡ | 4,187 |
as of · source
Portland point-in-time count, total
Total counted: 4,015 (2019 ) → 10,526 (2025 ‡‡) — trend chart in Point-in-time counts.
Sources
Where these figures come from
Homelessness point-in-time counts: period 2019, as of 2026-08-01 · source
Shelter bed capacity: period 2023, as of 2026-08-01 · source
Downtown office vacancy, overall (Cushman & Wakefield): period 2026-Q2, as of 2026-09-04 · source 1 , source 2
Downtown office rent, overall (Cushman & Wakefield): period 2014-Q3, as of 2026-08-05 · source 1 , source 2
Downtown office vacancy, direct — Portland only (Kidder Mathews): period 2026-Q2, as of 2026-09-04 · source 1 , source 2
Downtown office rent — Portland only (Kidder Mathews): period 2026-Q2, as of 2026-09-04 · source 1 , source 2
Metro office vacancy (CommercialEdge): period 2020-11, as of 2026-08-05 · source 1 , source 2
Metro office asking rent (CommercialEdge): period 2020-11, as of 2026-08-05 · source 1 , source 2
Metro office sale price (CommercialEdge): period 2020-11, as of 2026-08-05 · source 1 , source 2
County population: period 2020, as of 2026-08-01 · source 1 , source 2
Net domestic migration: period 2025, as of 2026-08-01 · source 1 , source 2
Portland city population: period 2020, as of 2026-08-01 · source 1 , source 2
High-earner tax returns (IRS SOI): period 2011, as of 2026-08-04 · source 1 , source 2
High-earner households (Census ACS): period 2016, as of 2026-08-04 · source 1 , source 2
County-to-county migration, summary (IRS SOI): period 2011-2012, as of 2026-08-04 · source 1 , source 2 , source 3
County-to-county migration, Multnomah detail (IRS SOI): period 2022-2023, as of 2026-08-04 · source 1 , source 2
Supportive Housing Services collections: period FY2023-24, as of 2026-09-04 · source