Oregon Landlords Can Raise Rent by as Much as 10% in 2024
By Joe Hathaway on Wednesday, September 27th, 2023 in More Top Stories Northeastern Oregon News
SALEM — Landlords in Oregon will be able to raise rent by as much as 10% in 2024.
That’s according to an announcement from the Oregon Department of Administrative Services.
The maximum rent increase of 10% matches the highest percentage allowed under a new law signed by Oregon Gov. Tina Kotek in July, which mandated an upper limit of 10% for all residential rent increases.
In 2023, Oregon’s rent hike cap was set at 14.6%, until Kotek signed Senate Bill 611 into law on July 6. The bill included an emergency clause, so it took effect immediately, meaning rent hikes after July 6 were limited to 10%. The bill was not retroactive, so any rent hikes higher than 10% that were set before July 6 remained in place.
Under state law, the Oregon Department of Administrative Services has to calculate and publish the maximum annual rent increase for the upcoming year by Sept. 30.
Before this year, it was calculated as: 7% plus the most recent Consumer Price Index. But, now, it can be no higher than 10%.
