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Boise Idaho Seeing Record Low Vacancy Rates

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.

 

Currently, First Rate Property Managements' vacancy rate is 2.6%, down .2% from last year at this time and down from 4.16% in 2010 and 5.9% in 2009.
 
 
Boise Investment Properties Update:
 
Current inventory of 4 plexes and duplexes are at the lowest in over 4 years with less than a 3 month supply in Ada County. As a result, we have seen values continue to improve. If you have been thinking of selling, now may be a good time. I currently have 4 buyers wanting to buy a 4 plex or duplex. Their criteria is all different. One is OK with older and deferred maintenance, while two are more interested in something newer. So if you want to sell, please let me know.

 

Posted by Robert Waldron for:

Tony A. Drost

 


http://www.frpmrentals.com/
http://www.boiseinvestmentproperties.net//
First Rate Property Management, Inc
Boise, ID

 

07-18-2012
Tony Drost
Boise Area Rental Market
08-29-2016

  • Property Management
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  • SEO & Property Management
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  • Boise and Idaho in the News
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