NARPM Vacancy Report
Southwest Idaho- Quarter 1, 2014
The National Association of Residential Property Managers collected data from Southwest Idaho commercial property management show vacancy and rental rate trends among single-family homes and multi-family homes in the Ada and Canyon county areas. Here are some of the report highlights!
Vacancy rates moved downward 2.2% from last quarter. Comparing spring to spring, the surveyed vacancy rate dropped from 2.6% for Q1 of 2013 to 1.7% for Q1 of 2014, with a recent reduction in single-family vacancies for the quarter.
Rental rates also rose significantly, as the supply of homes increasingly comes closer to falling below the demand. Spring rate increases are historically higher than the winter months, however, comparing last year’s data, we have already reached Q2 of 2013 rental rates. Multi-family rates were relatively stable with some segments slightly up and some slightly down within the statistical variability of the survey. Most of the upward rental rate movement for the quarter was in the single- family market.