At Jacob Grant Property Management, we know that investors can make better decisions when they have access to reliable data. We’re here to bring you that data and help you grow your investment portfolio. Our experience and leadership in the Idaho Falls rental market allows us to share what we know so you can apply it to your own rental properties.
Recently, we completed an in-depth review of the multifamily rental market in 2021, particularly the way it has performed in Idaho Falls during the first quarter. We hope you’ll find the full report useful, and we’re going to share some highlights on our blog to let you know what the most important takeaways are from our market report.
Why the Idaho Falls Multifamily Rental Market Matters
When you think about the strongest real estate market in Eastern Idaho, you think about Idaho Falls. This Bonneville County region is the area’s anchor market, as the largest city in Eastern Idaho and the fourth-largest city in the entire state.
Over the last decade at least, Idaho Falls has been a reliable market and good for investors. Any rental property owners looking for reliable cash returns knew that they could be found in Idaho Falls. It’s always been an attractive market, especially for multifamily homes.
Things have shifted in the last three years. Not because the market has changed much, but because investors have begun looking for different gains.
Trends in Idaho Falls Investing
If you’re wondering why these future values are just as important to investors as cash returns, there are a few things that have happened in the market recently that inspired new priorities.
Incomes are increasing, and so is population. There has been a lot of economic growth in and around Idaho Falls, making it an ideal place for investors to earn some short term and long term benefits.
The strong economy and stable population numbers have driven an increase in demand for homes, which has triggered a decrease in supply. Home prices have gone up, but so have home values, which means acquiring a home is less affordable. That’s driven an increased demand for rental property.
Idaho Falls Investors and Multifamily Rental Housing
Residents who feel priced out of owning their own home are looking for high-quality rentals. Investors are also feeling a pricing pinch with single-family homes, and are creating more of a demand for multifamily properties.
When you read our full report, you’ll learn why this trend towards investing in multifamily properties has had an impact on how properties have performed, and what it means for your own investment portfolio.
As our market report will show you, multifamily property values have increased by 8 percent on average. Cap rates have decreased by almost 3 percent.
Check out our additional blogs and don’t forget your copy of the full market report, which you can download here. Find out what 2021 is likely to hold for your property values and the entire rental market.