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Boise, Idaho Rental Market Tightens

By
Real Estate Agent with Phil Hoover, Inc.

Boise, Idaho real estate values have soared in the past few years, causing many potential buyers to rent instead of buying.

Property managers are reporting  that the scarcity of available rental properties is also due to an influx of new residents who sometimes choose to rent while deciding where to buy.

According to some industry experts, the Boise area absorbed 22,000 new residents last year, many of whom elected to rent.

A recent article in The Idaho Statesman revealed that the overall vacancy rate for single-family rental homes has dropped to a shockingly low 2.4%.

This is in stark contrast to a 12.8% vacancy factor a year earlier.

The obvious outcome of this tightening rental market is rising rents.

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