Talking to my neighbors, they're dealing with a ~30% YoY rent hike.

Property is managed by RealPage (or some flavor of subsidiary/partner company).

I really hope that company gets SUNK after the anti-trust lawsuit they're dealing with (it's a really slow moving one, and I haven't heard a substantial update since Summer 2023).

Oregon tried a rental increase cap, it's not working:

https://www.opb.org/article/2023/09/26/oregon-rent-increase-caps/

"In 2019, Oregon became the first state in the country with statewide rent control. For market-rate housing 15 years or older, the rent increase can be 7 percent plus inflation as measured by the consumer price index, according to state economist Josh Lehner.

But as inflation spiked in recent years, so did rent. In July, lawmakers amended the limit to impose a potentially tighter cap of 10%, when the calculation of 7% plus inflation would be higher than that.

“If that number of 7% plus inflation is larger than 10%,” Lehner said, “then the cap applies.”

Next year the allowable increase would have come in at 12.6% if not for the cap, Lehner’s office found, because of high inflation.

Tenant advocates in Oregon applaud the new cap, but point out some renters will still be dealing with steeper rent increases.

“This does not apply to our newer construction apartments,” Kim McCarty, executive director of the nonprofit Community Alliance of Tenants, said. “That’s still a problem.”"