Southwest Idaho Seeing Record Low Vacancy Rates:
Southwest Idaho is still seeing incredibly low vacancy rates. With the number of rentals going on the market increasing, you would think it would cause a fluctuation in the vacancy rate, but it is just the opposite. The demand for rentals is higher than ever causing the rates to be very stable. Canyon County is close to the national vacancy rate, while other markets are well below. Ada County even saw a 1% drop in vacancy rates. This high demand for rentals has slightly increased average rent prices especially in Ada County. We do expect to see a continuation of higher prices for the next few quarters as vacancy rates linger at record lows.
View the Southwest Idaho Chapter of NARPM’s full survey report.
Tony A. Drost
First Rate Property Management, Inc
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