Rent Growth High; Apartment Market Continues to Rise
Annual effective rent growth in the first quarter 2015 was 4.9%, the highest rate since the third quarter of 2011 and the highest first-quarter level since 2006. That’s a very optimistic metric for investors and landlords according to Park Place property management of Meridian, ID.
The apartment market is especially robust and continues an upward trend this year, according to preliminary first quarter data from Axiometrics. The most likely explanation of the strength of the Boise Idaho real estate rental market? Jobs, Jobs and Jobs even though the Bureau of Labor Statistics (BLS) suggests the Boise Idaho job creation may be slowing a bit but the Boise Idaho economy as a whole appears to continue to grow in strength.