Paramount Property Management Blog

Ada County and Canyon County Rental Market Climate January 2018

System - Friday, February 16, 2018

Current Rental Market Climate

For Ada County and Canyon County

Southwest Idaho Chapter of the National Association of Residential Property Managers just release the 3rd Quarter 2017. The information of this reports is based on the survey of property managers fir single and multi-family units in Ada and Canyon County communities.

The most recent survey results accounted for 7543 homes.

------Units ManagedVacanciesVacancy Rate
Ada County---55731232.2%
---Multi Family3859661.7%
---Single Family1714573.3%
Canyon County---1970673.4%
---Multi Family1340483.6%
---Single Family630193.0%
Grand Total---75431902.5%

Average Rent

Multi Family---$916
1 Bedroom$696
2 Bedroom$872
3 Bedroom$1124
---Single Family---$1289
2 Bedroom$1001
3 Bedroom$1225
4 Bedroom$1542
5 Bedroom$1550
---Multi Family---$757
1 Bedroom$688
2 Bedroom$741
3 Bedroom$975
---Single Family---$1202
3 Bedroom1013
4 Bedroom1328
Grand Total------$1096.00

Ada and Canyon County Rentals Ada and Canyon County vacancy rates have decreased from 3.5% in the second quarter to 2.5% in the third quarter of 2017. The largest decrease in vacancy rates can be found in the multi-family units located in Ada County, which decreased 2% this year. The second largest decrease was single family homes in Canyon County that decreased by .3%.[/caption]   Ada County Single Family home rates have decrease and average of $57 per month Multi Family homes rates have increased $4 per month. The resulting rents have decreased by $18 per unit to $1140 per month.   Canyon County Single Family home rates have increased $189 a month Multi Family units decreased by $42 per unit.   This rate is also indicative of the type of units rented. At Paramount we have seen an increase of rent values, but have seen the higher end homes rent during the early summer rentals rather than the end of summer.