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Saturday, December 20, 2014

Rents are Rising, time to buy!

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Finding apartments and rental homes has been tough in the Treasure Valley since late 2010, when vacancy rates fell below their historical averages of 5 or 6 percent. The Valley's total vacancy rate fell to 2.6 percent in September, according to the Southwest Idaho Chapter of the National Association of Residential Property Managers. The average monthly rental price for apartments in Canyon County jumped 23.4 percent from one year earlier, to $691, thanks to increased demand, according to the chapter's analysis of its third-quarter survey of rental management companies. The average cost of Canyon County single-family homes rose 13.2 percent to $960. Ada County increases were smaller. Average apartment prices increased 5.3 percent to $679, and single-family homes stayed flat at $960.

Courtesy the Idaho Statesman

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