It’s not an especially good time to be a renter in the Boise real estate market.
Renters are facing escalating rents and a near-zero vacancy factor these days.
Most of the property managers I know tell me they have waiting lists for the properties they manage and that landlords are routinely asking higher rents and getting them.
I have investor clients who are renting their homes in Meridian for $1,500 or more per month and I also have a client who rented their Island Woods home in Eagle last Fall for $1,850 in two days.
Meanwhile, the median price for a single-family home on lot/acreage in Ada County has risen from $135,000 in April 2011 to $174,792 at the end of June.
That’s a 29.5% increase in 14 months!
In many instances, it is far more affordable to buy than rent.
If you’re a renter who would like to become a homeowner, call me at 938-5533 or e-mail me!
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