As it has become harder for individuals and families to find rentals in the Treasure Valley, prices have risen almost across the board. Vacancy rates were 2.2 percent lower in the first quarter of the year than in the fourth quarter of 2013.
The decrease was more extreme for year-over-year vacancy rates, which fell from 2.6 percent in the first quarter of 2013 to 1.7 percent during the same three-month period this year.
The Southwest Idaho Chapter of the National Association of Residential Property Managers says demand for rentals is at a tipping point, close to overtaking the supply of available units. Most of the latest growth in rental prices has been in single-family homes, the chapter said in its quarterly analysis. Rental rates tend to be higher in spring than in winter even without a drop in vacancies.