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Old 07-04-2017, 11:45 AM
 
Location: Sandpoint, Idaho
3,007 posts, read 6,271,661 times
Reputation: 3310

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Quote:
Originally Posted by Seahawksfan33 View Post
Most apartments on Craigslist there went for like $500-$600/month a couple of years now. Now so many are going for WAY OVER $1,000/month, with it being difficult to find one that goes for under $1,000/month. Why are the rents going up so much? The cost of living in Spokane used to be like 1/4 of Seattle's as well two years ago), and now it seems to be more than half of it.
We have owned rental homes in the CDA area for the past ten years. Our rents have increased an average 3.00-4.25% per year over that stretch, even with considerable improvements and other increases in expenditures.

Rents in the area have pretty much tracked increases in salaries over the years and given that the housing stock is much nicer than it was 10 years ago, the real price for rentals in the CDA area has actually remained the same or become cheaper.

S.
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Old 07-11-2017, 03:56 PM
 
84 posts, read 163,645 times
Reputation: 57
That's the real deal. Good post.
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Old 07-11-2017, 03:58 PM
 
84 posts, read 163,645 times
Reputation: 57
Dear Seahawksfan33,
I reiterate: availability and prices are excellent in Cda as is Cda itself.
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Old 07-18-2017, 09:53 AM
 
Location: Boise, Idaho USA
69 posts, read 86,684 times
Reputation: 64
Quote:
Originally Posted by CrownVic95 View Post
This is a nationwide phenomenon.

Rents have been rising sharply in most major population centers in recent years - more sharply than we've seen in a long, long, time. CDA is in particularly high demand, so its increases have outpaced Boise, for example, but Boise rents are much higher than they were just a handful of years ago. Almost anywhere you look at desirable areas....not the coastal tourist magnets mind you, but just stable and safe areas for families....you see rents 20 and 30 percent higher than what you "knew" them to be. Because they were for so long.

I've been tracking this closely for the last half dozen years as I consider my retirement options, and I can tell you that this trend has hugely impacted my planning. It is not much of an oversimplification to say that I have been, for practical purposes, priced out of the West on my retirement income. At this point, I'm continuing to work for the foreseeable future and that was NOT the plan 10, 5, or even 2 years ago.
If you don't mind me asking but what other options are you looking at in area's to retire too???

I'm in the same boat and I live in Boise, rents have gone crazy because of the lack of House inventory.
Since I've worked at the same apt. complex going on 11 years I've seen the rents increase 21% and much of that in the last 2-3 years
Before that they were offering zero deposits..free month etc., to fill up the complex but now a waiting list 20-30 people

And buying a home is even worse for prices, Can you imagine in Boise Idaho you will probably get out bid for a house and have to offer more then asking price...Can you imagine

Because I'm within 6 years of retirement, what other areas are you looking at?
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Old 07-18-2017, 12:26 PM
 
Location: A safe distance from San Francisco
12,350 posts, read 9,673,490 times
Reputation: 13891
Quote:
Originally Posted by CASD57 View Post
If you don't mind me asking but what other options are you looking at in area's to retire too???

I'm in the same boat and I live in Boise, rents have gone crazy because of the lack of House inventory.
Since I've worked at the same apt. complex going on 11 years I've seen the rents increase 21% and much of that in the last 2-3 years
Before that they were offering zero deposits..free month etc., to fill up the complex but now a waiting list 20-30 people

And buying a home is even worse for prices, Can you imagine in Boise Idaho you will probably get out bid for a house and have to offer more then asking price...Can you imagine

Because I'm within 6 years of retirement, what other areas are you looking at?
I don't mind at all.

Right now I'm focusing on northern Wisconsin. Appleton, Wausau, Sheboygan, and lots of other nice towns in the general vicinity.

If you do a Craigslist housing search on Wausua and include nearby areas, you get 126 results posted today. Then filter using $900 as a rent maximum, and you still have 102. That's 80% of the rental listings falling at $900 or below. Do the same thing for Boise and you get 37%, For CDA, 12%. That gives you an idea. Then if you start looking at individual ads, you'll see a number of senior communities with attractive, single level designs - exactly what I'd be looking for. Not because of no stairs - but because of no one above or below you. I will never, ever return to multi-level apartment living.

Why does northern Wisconsin stay so affordable? Best guess would be the winters, which most people want no part of. Their loss. I grew up in Buffalo, Chicago, Minneapolis, and Rochester (NY), absolutely thrived on winter, and have missed it every year since I moved out here. So I would welcome back winter with open arms....remaining cognizant, though, that it's been nearly 50 years since I've lived anywhere as serious as Wausau or Appleton is about winter. 50 years ago I was as hardy as The Terminator. It will be interesting to see how I hold up half a century later.

Anyway, I gather from some of your other posts that you're not very fond of long, tough winters. Boise's, on average, is considerably milder than the upper Midwest. That's one reason why so many more are moving there.
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Old 07-18-2017, 12:54 PM
 
Location: Boise, ID
8,046 posts, read 28,418,388 times
Reputation: 9470
Quote:
Originally Posted by CASD57 View Post
If you don't mind me asking but what other options are you looking at in area's to retire too???

I'm in the same boat and I live in Boise, rents have gone crazy because of the lack of House inventory.
Since I've worked at the same apt. complex going on 11 years I've seen the rents increase 21% and much of that in the last 2-3 years
Before that they were offering zero deposits..free month etc., to fill up the complex but now a waiting list 20-30 people

And buying a home is even worse for prices, Can you imagine in Boise Idaho you will probably get out bid for a house and have to offer more then asking price...Can you imagine

Because I'm within 6 years of retirement, what other areas are you looking at?
It is true that rents in Boise have gone up quite a bit in the last 2-3 years. However, they hadn't gone up much at all over the previous 10 years. We were due for a correction. I had tenants who had stayed the same rent for 4 or 5 years, with no increase, and they still weren't under market until last year. So then when we took increases last year and again this year, they are all in sticker shock, but it is just a reflection of the market.
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Old 07-18-2017, 04:22 PM
 
Location: Boise, Idaho USA
69 posts, read 86,684 times
Reputation: 64
Quote:
Originally Posted by Lacerta View Post
It is true that rents in Boise have gone up quite a bit in the last 2-3 years. However, they hadn't gone up much at all over the previous 10 years. We were due for a correction. I had tenants who had stayed the same rent for 4 or 5 years, with no increase, and they still weren't under market until last year. So then when we took increases last year and again this year, they are all in sticker shock, but it is just a reflection of the market.
Yea your right of course...Sticker shock
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Old 07-18-2017, 06:31 PM
 
Location: Old Mother Idaho
29,198 posts, read 22,263,933 times
Reputation: 23827
Quote:
Originally Posted by CASD57 View Post
Yea your right of course...Sticker shock
Time does go on and changes everything.

I rented my first apartment for $25 a month, furnished, all utilities paid, and that was on the upper part of the rent scale in Moscow at that time. Back then, I typically spent $5.00 in 7 days in walking around money. I cashed a $5.00 check once a week at Moscow Drug, and sometimes couldn't spend it all in a week.

That was how it was in 1962. Over a decade later in 1973, my first house cost $21,000 in Idaho Falls. 3 bdr. 1& 1/2 baths, and a family room addition off what was once the back door that connected the once separate garage to the house.

About 1850 sq ft., and older, but nice enough for me. OK older neighborhood. 5 years later, sold it for $38,000 and moved into an even older home over twice as big, but in great shape with the proceeds.

That some first home originally cost the first owner $4500 back in ca. 1953.
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