Most rents rise, especially in Canyon County

IDAHOSTATESMAN.COM
Most rents rise,
especially in
Canyon County
WEDNESDAY, DECEMBER 17, 2014 - TUESDAY, JANUARY 20, 2015
BusinessInsider 23
BY THE NUMBERS
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.
Vacancy rates, by quarter
11%
10%
9%
9%
8%
8%
Single-family homes
Apartments
Total
7%
6%
5%
4%
3%
2%
1%
0
3rd 4th
1st
2nd
3rd 4th
1st
2008
2nd
3rd 4th
2009
1st
2nd
3rd 4th
2010
1st
2nd
3rd 4th
2011
Average rents
2nd
Three-bedroom
single-family homes
$1,469
$1,400
$1,064
$1,053
$870
$838
$1,200
$829
2nd
3rd
2014
Ada
Five-bedroom
single-family homes
$1,563
$1,561
$1,388
$1,225
$1,155
$1,057
$978
1st
2013
Four-bedroom
single-family homes
$1,500
3rd 4th
2012
Canyon
Two-bedroom
single-family homes
$1,000
1st
$775 $796
$800
$600 $590
$400
$200
2013
$1,000
2014
One-bedroom
apartments
900
Canyon
800
Ada
700
600
$536
$595 $573
2013
2014
2013
Two-bedroom
apartments
2014
$688
$719
$736
$795
$848
$531
500 $413
400
200
100
2013
Source: Southwest
Idaho Chapter of the
National Association of
Residential Property
Managers
Research: Zach Kyle
Graphics: Patrick Davis
300
0
2014
Three-bedroom
apartments
$811
$661
2013
2014
2013
2014
2013
2014

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