DATE:  AUGUST 1, 2007
Date Market Vacancy Rent Rate Rent/NRSF
Dec – 06 4.4% $652 $0.777
Sep – 06 2.4% $644 $0.763
Jun – 06 2.4% $621 $0.737
Mar – 06 2.9% $604 $0.707
Mar – 05 3.1% $551 $0.657
Rents continue to rise in Kootenai County to an average of $652/mo. As of 12/06.  Notice that the vacancy rate as of that date is 4.4% over-all.  I expect that this rate will decrease in the coming months as housing sales continue to slump, causing tenants to postpone their buying decision.  Rents should continue to rise.
Resources:
“Washington Center for Real Estate Research/ Washington State University