We are still seeing very low vacancy rates and increases in rents. Here is a summary: Ada & Canyon county vacancy rate increased just slightly from 2.0% in the second quarter of 2018 to 2.2% in the third quarter of this year. Overall the largest vacancy decrease was in multi family units in Canyon County which went down .7%, while Ada County also increased by a mere .3% this quarter. Ada County single family rental rates saw a decrease of $112 per month per unit. While multi-family in Ada County rents had a increase of $97 per month, per unit from last quarter. Overall the average was an decrease of $25 across the board per unit, making the average rent $1309 per month in Ada County. In Canyon County rental rates increased overall by $164 putting the average rent per unit at $1194. Single family homes had the largest increase in monthly rent by $250 per unit and multi family units increased by $99 per unit. Check out the full report here: 2018 Q3 Vacancy Report (1)
Your lease rate is going to be determined by several market factors including the condition of the property, location, and the rental rates for competing homes in the immediate area. The markets that dictate lease rates vary vastly from the markets that influence value of properties. Please contact our office and we can discuss this with you as it relates to your specific property. Ask us how much you could expect in rent.