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Owner Blog: Useful information from our team to you!

 

What The Stats Are Telling Us

 

As promised here is your market information concerning average rents per square foot and employment statistics. This information was reported as of March 2015 and employment statistics drawn from the Idaho Department of Employment.

The average rent per square foot has fluctuated in the date range from January 2006 to January 2015. However, it has been steadily increasing since January of 2010. The overall break down looks like this:

    Year          Overall   1 BR    2 BR   3 BR

January 2015:  $.94     $1.09   $.86    $.77

January 2014:  $.89     $1.02   $.82    $.73

January 2013:  $.86     $.98     $.79    $.71

January 2012:  $.84     $.96     $.77    $.69

January 2011:  $.82      $.94     $.75    $.68

January 2010:  $.82     $.94     $.75    $.67

We are experiencing a steady increase with a healthy jump into the year 2015.  As vacancies come in our managed properties we are raising everything across the board and renting most product almost immediately.  Wow, does this feel good after the last 8 years.  It is healthy out there.

Employment statistics for Ada county have been increasing steadily since 2008 when the total was at its lowest in the last 10 years.   In year 2009 employment hit a low at 174,931. As of 2014 the rate has increased to 202,428 with a combined employment in Ada and Canyon county of 285,914, the highest rate in the last 10 years. From years 2013-2014 the employment increased by 5,320 in Ada county and a combined increase in Ada and Canyon county of 7,267.

The steady growth of employment is a great indicator for Boise and surrounding areas. This lends to steadier incomes, more disposable income and people with money to invest.
 

03-20-2015
Dorothy Hardee
Real Estate Investment
03-20-2015

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