(Portland, OR) -- A new report by Zillow shows the cost to rent an apartment is skyrocketing in Portland. The real-estate website reports rents have risen over the past year, nearly two times faster than home values. Zillow says the average home price in Portland rose four-point-seven percent during the past 12 months, while rent increased an average of eight-point-six percent. Rent averages more than 16-hundred dollars a month in Portland, and the average home price is nearly 283-thousand dollars.