Portland Metro Chamber reports dire state of economy

Annual reports show population growth stalling, job losses, and declining real estate attractiveness for the region

Published on Feb. 16, 2026

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The Portland Metro Chamber has released its annual State of the Economy and State of Downtown & the Central City reports, which show that the Portland region is at a major inflection point. The reports indicate that outmigration has eased but natural population growth has stalled, leaving future demographic growth increasingly dependent on international migration. Employment has continued to contract even as the national economy expands, and housing production has slowed sharply with affordability remaining out of reach for many households.

Why it matters

These economic trends, combined with low economic confidence among the public, serve as clear warnings for the region. The Chamber warns that under the status quo, the region will continue seeing economic decline, business flight, and strained funding for public services. However, the Chamber believes that positive change is now a must, not an option, and that public-private coordination on priorities like retaining and attracting private investment, building affordable housing, and creating jobs can help turn the region's trajectory around.

The details

The State of the Economy report found that the Portland metro area had 3,400 more births than deaths in 2024, down from 13,900 more births than deaths in 2001. The region also lost 8,800 jobs in 2025, the fourth worst performance of any metro region in the nation. Portland continues to rank second to last in national real estate attractiveness rankings, and the pipeline of new multifamily housing units in the city is the lowest since 2011 at just 656 units. Quarterly exports from the region have also declined from $10 billion in Q3 2024 to $6.4 billion.

  • The Portland Metro Chamber released its annual State of the Economy and State of Downtown & the Central City reports in February 2026.
  • The State of the Economy report covers data from 2024 and 2025.

The players

Portland Metro Chamber

The regional chamber of commerce representing businesses in the Portland metropolitan area.

Andrew Hoan

President and CEO of the Portland Metro Chamber.

Mark Wells

Executive Director of Downtown Portland Clean & Safe.

ECOnorthwest

The consulting firm that produced the reports for the Portland Metro Chamber.

Bank of America

A sponsor of the reports.

Downtown Portland Clean & Safe

A sponsor of the reports.

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What they’re saying

“The economic trends in this report, together with low economic confidence among the public, serve as clear warnings. This economic decline is the direct result of major cracks in our foundation brought about by structural policy decisions across the city, counties, metro and state – and these issues will not fix themselves. Now is the time to adopt a competitive mindset and learn from our past mistakes as well as recent positive gains in safety and livability.”

— Andrew Hoan, President and CEO of the Portland Metro Chamber (oregonbusinessreport.com)

“Portland's Central City has experienced major improvements on foot traffic, safety, and other livability issues since the pandemic, and that progress has largely been driven by focused public-private action and partnership. However, these gains are fragile, and we cannot take this positive momentum for granted. Now, we must leverage these lessons and successes to prioritize our downtown economy.”

— Mark Wells, Executive Director of Downtown Portland Clean & Safe (oregonbusinessreport.com)

What’s next

The Portland Metro Chamber is calling for public-private coordination on clear, shared economic priorities such as retaining and attracting private investment, building affordable housing, and creating jobs in order to turn the region's economic trajectory around.

The takeaway

The Portland region is facing significant economic challenges, including stalling population growth, job losses, declining real estate attractiveness, and reduced housing production. However, the Chamber believes that by adopting a competitive mindset, learning from past mistakes, and leveraging public-private partnerships, the region can positively turn around its economic trajectory and secure a more prosperous future.