In March 2025, the Southwest Idaho Chapter of the National Association of Residential Property Managers (NARPM) released its highly anticipated Q1 Vacancy Report for Ada and Canyon County, providing comprehensive data on how the Boise rental market & vacancy rates are trending across multi-family units and single-family homes.
In this blog, we'll explore what the SW Idaho NARPM Vacancy Report Q1 2025 reveals about vacancy rates, rental rate trends, and what it all means for your property management strategy.
To view the full report from NARPM, click here.
Q1 2025 Rental Vacancy Trends in Ada and Canyon County
The Q1 NARPM Vacancy Survey, officially released in early April, highlights a detailed shift in the local rental market. The data was compiled from property management companies managing both multi-family and single-family units in the Ada and Canyon County area. These vacancy reports serve as a reliable measure for tracking market performance and rental rate trends over time.
The 2025 vacancy report includes results from 36 contributors who collectively manage over 8,400 rental units. This figure is especially meaningful when compared to previous years' surveys that tracked about 6,700 units. The increase in participating properties provides a complete view of the particular market, offering enhanced insight for real estate investors like you.
Q1 2025 Vacancy Rates: A Slight Improvement Across the Board
The average overall vacancy rate for both Ada and Canyon County dropped to 3.44%, down from 4.24% in Q4 of 2024. This slight improvement is good news, signaling strong demand for rentals and a healthier market.
Ada County Breakdown
In Ada County, the vacancy rate sits at 3.33%, down from 3.97% the previous quarter. This drop reflects a steady rise in rental demand, especially for single-family homes and multi-family units in Boise, Idaho.
Canyon County Breakdown
Meanwhile, Canyon County reported a 3.73% vacancy rate, a significant decline from the 5.11% recorded in Q4 2024. This is a key indicator that Canyon County is closing the gap with Ada County, attracting more tenants and offering more competitive rents.
Rental Rate Trends: Stabilizing Prices After a Rocky 2024
Rental rates across both counties remained mostly stable, while the vacancy rate saw improvement. This marks changes following the ups and downs of 2024, where rents fluctuated due to inventory shortages, rising interest rates, and increased construction activity.
In the latest survey, average rents across Ada and Canyon held steady, which suggests a stabilizing trend. Although multi-family units saw slight pricing variations, single-family homes generally maintained their price points, making them an attractive option for both tenants and property owners like you.
Multi-Family vs. Single-Family: Comparing Property Types
It’s essential to analyze how different property types perform. The vacancy report separates multi-family units from single-family homes, which helps us closely monitor the direction of each asset class.
Multi-Family Units: These properties had slightly higher vacancy rates compared to single-family homes, but they also offer property managers economies of scale and often lower turnover costs.
Single-Family Homes: Generally considered more stable, these homes continue to enjoy high demand, especially in Boise, Idaho, where location and school districts play a major role in rental decisions.
What Does This Mean for Boise Property Owners?
If you're a property owner in Boise, Idaho, this vacancy report offers some good news. Lower vacancy rates and stable rents mean that your investment is likely performing well, and if you're working with a qualified property management team, your chances of attracting and retaining reliable tenants are even higher.
Whether you're already managing units or are thinking about investing in this particular market, this data provides an essential measure for long-term performance and financial planning.
Why Vacancy Reports Matter
As residential property managers, we rely on NARPM vacancy reports to help make informed decisions. Whether you're looking at rental rate trends, unit turnover, or evaluating how your property competes in the broader market.
This survey data gives us the tools to:
Compare supply and demand
Optimize rental pricing
Forecast future trends
Evaluate risk and opportunity by area
Using these reports, you can adjust strategy, anticipate fluctuations, and maximize your returns, whether in Ada County, Canyon County, or anywhere in SW Idaho.
Looking Back to Look Forward
Compared to Q2 2023, as highlighted in the SW Idaho NARPM | Q2 2023 Vacancy Report, there is a continuing decline in vacancy rates, especially in Canyon County. The past year has shown a more stabilized rental market, likely due to a mix of federal government interest rate policy, fewer construction permits, and a relatively steady inventory.
Partnering with Professionals for Better Results
Working with experienced property management companies can help you use this data to achieve actionable results. If you’ve ever wondered whether now is the time to start investing, expand your portfolio, or simply reduce your vacancy, you’ll want an expert who can understand these vacancy reports.
Property managers know how to interpret these trends, keep your units filled, and optimize your returns in any market conditions.
Let 1st Rate Property Management Help You
Ready to put this information to work for your property? At 1st Rate Property Management, we specialize in helping you handle the growing real estate market. Whether you're looking to fill your multi-family units, reduce vacancy, or optimize your rent strategy, we’re here to help you succeed in Boise and beyond.
Contact us today and let’s transform market insights into profitable action!
Frequently Asked Questions About Rental Vacancy Trends in Ada and Canyon County
1. Why do rental vacancy rates fluctuate in Boise and surrounding areas?
Vacancy rates shift due to a combination of factors such as seasonal demand, economic growth, interest rates, and population movement. In Boise, for example, spring and summer tend to bring increased rental activity as families relocate and students secure housing for the upcoming school year. Broader trends like new construction or changes in mortgage rates also affect whether people choose to rent or buy.
2. How do vacancy rates affect rental pricing strategies?
A lower rental vacancy rate typically means higher demand, giving you room to increase rent. However, when the rental vacancy rate rises, you may need to offer more competitive pricing or lease incentives to fill units. Understanding these trends can help you adjust rent prices proactively and minimize long-term vacancies.
3. What can I do to reduce my vacancy rate as a property owner?
Effective property management is key. Prioritize tenant retention, maintain the property, respond to maintenance issues quickly, and ensure your rental listings are well-marketed online. Social media, video evaluation, and virtual tours have also become essential tools in reducing vacancies by reaching a wider market.