Pearl District Market Trends

The Pearl District is an area of Portland, Oregon, formerly occupied by warehouses, light industry and railroad classification yards and now noted for its art galleries, upscale businesses and residences. The area has been undergoing significant urban renewal since the mid-1980s when it was reclassified as mixed use from industrial, including the arrival of artists, the removal of a viaduct and construction of the Portland Streetcar. It now mostly consists of high-rise condominiums and warehouse-to-loft conversions.
The area is located just north of downtown between West Burnside Street on the south, the Willamette River on the north, NW Broadway on the east and the Interstate 405 freeway on the west.
The area is home to several Portland icons, including Powell's City of Books. The former Weinhard Brewery, which operated continuously from 1864 to September 1999, was shut down by Stroh's upon the purchase of the Weinhard's brand by Miller Brewing and sold for redevelopment as the Brewery Blocks. Art galleries and institutions, boutiques, and restaurants abound, and there are also a number of small clubs and bars. The United States Post Office main processing facility for all of Oregon and southwestern Washington was built in the Pearl District in 1964, next to Union Station. This location was chosen in order for the post office to be able to better serve towns outside the Portland metro area.

Currently, the average rents in this neighborhood are approximately:

Bedrooms Average Rent
Studios $3,165
1 bedroom $2,558
2 bedrooms $4,200
3 bedrooms
Listing Price Bed/Bath

If you're looking for Pearl District apartments on Craigslist but don't want to pay a broker fee, a good place to start your apartment search is Pearl District no fee apartment guide.