Multifamily rents per square MULTIFAMILY ASKING RENT PER SQUARE FOOT, RIVER <br />foot are higher on average in ROAD/SANTA CLARA AREA AND EUGENE, 2000 TO 2019 YEAR TO <br />DATE <br />Eugene than they are in Source: Costar, Market Rate Multifamily, January 2019 <br />River Road/Santa Clara. <br />The addition of the Ecco $1.40 <br />Apartments in the River <br />Road/Santa Clara area in 2014 $1.20 <br />brought the average for the <br />area up to more closely match <br />the average for the city as a $1.00 ` _ _ _ _ River <br />Road/SCA <br />whole. (This is a result of adding _ _ _ �' rent per sq. <br />a higher number into an $0.80 ' ft. $1.23 <br />average rent calculation, not a <br />result of the rents in other $0.60 <br />buildings increasing.) <br />$0.40 <br />$0.20 <br />$0.00 <br />O r1 N M`T M O ti 00 M O -- N M�t M 0 ti 00 <br />0 0 0 0 0 0 0 0 0 0 rl rl r -I r -I r -I r -I r -I rl rl <br />O O O O O O O O O O O O O O O O O O O <br />N N N N N N N N N N N N N N N N N N N <br />River Road/Santa Clara Area Effective Rent Per SF <br />— — Eugene Effective Rent Per SF <br />Top multifamily rents for <br />COMPARABLE MARKET RATE UNIT SIZES AND RENTS, EUGENE <br />new properties in <br />Source: ECONorthwest analysis of rent data from City of Eugene for market rate <br />multifamily (excluding <br />student housing) complexes, <br />December 2018 <br />comparable locations in <br />Rent range <br />Rent range <br />Eugene range from $1.20 <br />Unit Type <br />Size range <br />(monthly) <br />(per sq ft) <br />per square foot (monthly) to <br />Studio <br />470 - 486 sq ft <br />$989 - $1,075 <br />$2.10 - $2.21 <br />over $2.20 per square foot, <br />1 bedroom <br />637 - 854 sq ft <br />$1,130 - $1,420 <br />$1.35 - $2.23 <br />with an average of roughly <br />2 bedroom <br />980 - 1147 sq ft <br />$1,475 - $2,191 <br />$1.29 - $2.12 <br />$1.70 per square foot. <br />3 bedroom <br />1200 - 1985 sq ft <br />$1,615 - $2,400 <br />$1.21- $1.47 <br />Many of Eugene's top -of -market <br />complexes cater to the city's <br />Weighted <br />student population (these are <br />Unit Type <br />Weighted Average <br />Weighted Average <br />Average Rent <br />not included in the data shown). <br />Size (sq ft) <br />Rent (monthly) <br />(per sq ft) <br />More comparable properties in <br />Studio <br />480 <br />$1,030 <br />$2.16 <br />locations further from the <br />university do not achieve the <br />1 bedroom <br />710 <br />$1,320 <br />$1.87 <br />same premiums as those <br />2 bedroom <br />1,070 <br />$1,530 <br />$1.44 <br />adjacent to the University of <br />3 bedroom <br />1,260 <br />$1,740 <br />$1.38 <br />Oregon. <br />ECONorthwest <br />29 <br />202 <br />