Vacancy rates on average for both counties increased slightly from 2.6% to 2.7% for the 2nd Quarter of 2016. The largest increase in vacancy rates from last quarter were Canyon County single family homes which increased from 1.9 to 2.4. Overall, Ada County rental rates decreased by $15 per rental unit from the first quarter in 2016. Ada County single family homes monthly rents decreased on the average of $42. Ada County multi-family unit rents decreased by an average of $13 per month.Canyon County showed an average decrease of $66 from last quarter.
With that said, overall vacancies are down from 3.8% to 2.7% in Ada County and from 4.3% to 2.6% in Canyon County when compared to the 2nd quarter of 2015 which is a more accurate look due to the lack of participation in the 1st quarter survey of 2016. Rental rates are also up from that 2nd quarter 2015 overall all at $34 for both Ada County and Canyon County.
Both Ada and Canyon County experienced decreased vacancy for the 2nd Quarter in 2016 continuing the year on a very high note. Q2 vacancy rates are historically higher so the increased vacancy for this quarter is nothing alarming. It’s still very good