06/20/2025
Rents, Rates & Real Talk: Eugene’s Rental Market Snapshot
Year to date, Eugene’s rental market has shown steady demand with modest price increases - painting a picture of a city that continues to attract renters despite broader economic fluctuations. The rent averages below are a snapshot of the last 60 days from Zillow, Apartments.com, RentCafe plus our own portfolio here at Dwell.
📈Current Rental Trends for Apartments (June 2025)
Average Rents for 0-1 bedroom apartments = $1,400
Average Rents for 1-2 bedroom apartments = $1,660
Vacancy Rate: 3.0-3.6%
Average days vacant: 20-30 days
📈Current Rental Trends for Single Family Homes (June 2025)
Average Rents for a 2-3 bedroom home = $2,175
Average Rents for a 3-4 bedroom home = $3,000
Vacancy Rate: 2.8-3.4%
Average days vacant: 20-30 days
Rental Market Summary;
To compare back before 2020, the average rent in Eugene hovered around $1,300 - $1,400 for a typical apartment. Fast-foward five years, and we’re now seeing average rents between $1,600 and $1,700, marking a 20-30% increase. That said, rent hikes have slowed significantly over the past 12 months, suggesting a stabilization following the sharp post-pandemic surges. The good news, even though it might not feel like it as rents soften after the COVID rental explosion, Eugene’s rental market remains tight with vacancy rates well below national averages of 5.5%.
These trends are also carrying over into our neighboring submarkets like Springfield and Cottage Grove. While rents in Springfield are typically 10-15% cheaper than Eugene, vacancy rates are in line and rentals are in demand. In Cottage Grove we’ve seen a lift in average rents however larger properties are rare and are scooped up if/when they come available which is inflating the average rent amounts.
On the sales side, it seems like the slow down is more apparent however sales prices according to Redfin and several local brokerages are selling between $490l-505k which is a slight uptick from last year’s $480k. What’s lengthened significantly is the selling timeline, likely due to rising mortgage rates and a slight increase in inventory.
(please note we are NOT a sales brokerage! If you have questions about selling your property or buying another investment, let us know and we’ll refer you to our short list of preferred local real estate agents).
*So, What does this mean for Owners & Renters?*
-For owners: The rental market is stable and healthy, as long as you have the right plan and tools in place. Well-priced and well-presented properties are still leasing in a timely manner. Now is also a great time to invest in property improvements that help reduce future vacancy time and justify slightly higher rents.
-For renters: While rents have climbed compared to a few years ago, the market has cooled off slightly, giving renters more negotiating room and choices.
