Data from a total of 20 property management companies were included in the survey results, which accounted for a total of 7,369 homes: 2,740 single-family and 4,629 multi-family.
Ada & Canyon county vacancy rate increased from 3.0% in the third quarter of 2018 to 3.4% in the first quarter of 2019. However, overall both Ada and Canyon County had a decrease in trending vacancy rates for single family dwellings, Ada County was down .5% and Canyon County down .6% this first quarter of the year. The slight increase in vacancies overall occurred in multi-family dwellings reported at 1% or less and likely due to the abundance of
new construction in the area.
Ada County single family marketed rental rates saw a increase of $60 per month per unit. Multi-family units in Ada County also increased by an average of $70 per month per unit that are being marketed in the first quarter of 2019. The overall rent per unit increased $23 making the average marketed rent rate $1366 per month.
In Canyon County rental rates were marketed at an increased overall rate of $119 putting the average at $1067. Single family homes had the largest incase in marketed monthly rents by $80 per unit and multi family units increased by $41 per unit.
-NARPM
Author
Andrew L. Propst
MPM® CPM® CCIM®
