Paramount Property Management Blog

Current Rental Market Climate

For Ada County and Canyon County

Southwest Idaho Chapter of the National Association of Residential Property Managers just release the 3^rd 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 Managed	Vacancies	Vacancy Rate
Ada County	---	5573	123	2.2%
---	Multi Family	3859	66	1.7%
---	Single Family	1714	57	3.3%
Canyon County	---	1970	67	3.4%
---	Multi Family	1340	48	3.6%
---	Single Family	630	19	3.0%
Grand Total	---	7543	190	2.5%

Average Rent
Ada	---	---	$1140
	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
Canyon	---	---	$928
---	Multi Family	---	$757
---		1 Bedroom	$688
---		2 Bedroom	$741
---		3 Bedroom	$975
---	Single Family	---	$1202
---		3 Bedroom	1013
---		4 Bedroom	1328
Grand Total	---	---	$1096.00

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.