The 4th Quater National Association of Residential Property Managers (NARPM) vacancy survey has been published. The data the survey collected indicates that the trends in Ada & Canyon county vacancy rates increased .17% from 1.66% in the third quarter of 2019 to 1.83% in the fourth quarter of 2019. Ada County increased .02% and Canyon County increased .54% this fourth quarter of the year. The slight increase in vacancies overall occurred in Canyon County dwellings.
Ada County single-family marketed rental rates saw the greatest change by decreasing monthly rent by $57 per unit. Multi-family units in Ada County also decrease by an average of $5.67 per month per unit in the fourth quarter of2019. The overall marketed rent per unit decreased $12 in Ada County making the average marketed rent rate $1410 per month. In Canyon County, rental rates were marketed at an increased overall monthly rate of $17 putting the average at $1082. Single-family homes had the largest decrease in marketed monthly rents by $39 per unit and multi-family units decreased by $5 per unit. Overall vacancy rates have decreased by 2.23% from 4th quarter in 2018
Stay tuned for our next quarterly recap on the vacancy survey and feel free to check out Quarter 3’s report HERE.