Boise area real estate and rental management blog
The SW Idaho Chapter of NARPM, located here in Boise, recently released its quarterly rental vacancy report which includes good rental price data as well. We have providfed their summary below as well as a link to the full report.
The data collected indicates that the trends in Ada & Canyon county vacancy rates have decreased by 2.64% from the 2nd quarter of 2020 to the 2nd quarter of 2021. In the 1st quarter of 2021, vacancy rates hit the lowest point reported in over 15 years at .81%. Vacancy rate increased slightly in the 2nd quarter of 2021 to 1.66%.
Ada County single family marketed rental rates increased this quarter by $177 per unit in monthly rent. While multi family units in Ada County increased by an average of $129.00 in rent per month in the 2nd quarter of 2021. The overall marketed rent per unit increased by $113 in Ada County making the average marketed rent rate $1679 per month. In Canyon County rental rates were marketed at an increased overall monthly rate of $58 this quarter putting the average at $1398.00. Current data shows that the average market cost of the Canyon County rentals home.
Read the full report here.