A recent survey of Boise-area single-family rental properties revealed an overall vacancy rate of just 3.8% for the 2nd quarter of 2006.

This contrasts with a 10.8% vacancy rate during the first quarter of the year.

Underlying reasons include higher property values and higher interest rates, resulting in fewer buyers being able to qualify to purchase their own home.

The survey also indicated that rents are starting to rise for the first time in several years as the rental market tightens.

Good news for investors; bummer if you are a renter.