The Oregon Department of Administrative Services (DAS) this week published the annual maximum rent increase allowed by statute for calendar year 2024. The DAS Office of Economic Analysis (OEA) has calculated the maximum percentage as 10.0%.
Following the passage of SB 608 in the 2019 legislative session and SB 611 in the 2023 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, or 10%, whichever is lower.
The allowable rent increase percentage for the 2024 calendar year is 10.0%. The allowable rent increase percentage for the previous year, 2023, was 14.6% if the increase was issued before July 6, or 10.0% if issued after July 6.
DAS will calculate and post the percentage for the 2025 calendar year by Sept. 30, 2024.
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 and SB 611 at the link below. DAS does not provide legal advice regarding other provisions of SB 608 and SB 611.
Links:
- Full text of SB 608: http://olis.leg.state.or.us/liz/2019R1/Downloads/MeasureDocument/SB608/Enrolled
- Full text of SB 611: https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/SB611/Enrolled
- OEA website: https://www.oregon.gov/das/OEA/Pages/Rent-stabilization.aspx