DAS Publishes Annual Maximum Rent Increase for 2023
The Oregon Department of Administrative Services this week published the annual maximum rent increase allowed by statute for calendar year 2023. The DAS Office of Economic Analysis has calculated the maximum percentage as 14.6%.
Following the passage of SB 608 in the 2019 legislative session, Oregon law requires DAS to calculate and post to its website, by September 30 of each year, the maximum annual rent increase percentage allowed by statute for the following calendar year. Per statute, OEA calculates this amount as 7% plus the Consumer Price Index for All Urban Consumers, West Region (All Items), as most recently published by the Bureau of Labor Statistics.
The allowable rent increase percentage for the 2023 calendar year is 14.6%. DAS will calculate and post the percentage for the 2024 calendar year by Sept. 30, 2023.
Information about the maximum annual rent increase percentage, as well as the provisions of ORS 90.323 and 90.600 (statutes governing rent increases), can be found on the OEA website.
For information on the law, please see the full text of SB 608 at the link below. DAS does not provide legal advice regarding other provisions of SB 608.
Links:
• Full text of SB 608: http://olis.leg.state.or.us/liz/2019R1/Downloads/MeasureDocument/SB608/Enrolled
• OEA website: https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx
Contact:
Josh Lehner
Office of Economic Analysis, Economist
971-209-5929
Joshua.Lehner@das.oregon.gov
