SURVEY: Renters in Kootenai County pay more than half of income toward rent
Apartment buildings under construction on the south side of Hayden Avenue west of Ramsey Road are pictured here near completion in this Press file photo taken in March 2022.
DEVIN WEEKS/Press file
COEUR d’ALENE — Kootenai County renters are paying an average of 51% of their income toward rent and nearly all shouldered rent increases in the past year, according to results of a recent survey conducted by CDA2030.
The community-based nonprofit surveyed 1,495 renters and 18 property managers to provide a snapshot of the local rental market. The survey results, though not scientific, provide the Regional Housing & Growth Issues Partnership with insight into the rental market and the severity of Kootenai County’s housing crisis.
“The survey results give us firsthand accounts from renters, landlords and property management companies,” said Kiki Miller, a Coeur d’Alene City Councilor and member of the partnership. “Local workers are being priced out of our community, resulting in labor shortages for local employers.”
Of the renters surveyed, nearly 94% reported rent increases over the past year, with an average increase of $376 per month. The average rent for the survey respondents was $1,648 a month.
Most of the respondents live in two-bedroom multi-family units or three-bedroom independent rental units. Almost 17% have careers in education, 15% work in various trades and nearly 15% are employed in the health care field.
CDA2030 also looked at historic Kootenai County rental data going back to 2017. Overall rent prices increased from $989 in May 2017 to $1,695 per month, an increase of more than 71%. One-bedroom units increased from $688 to $1,221 — a 77% increase — during the same five-year period. Two-bedroom units also increased 77% from $847 per month to $1,502.
The 18 property managers surveyed by CDA2030 have a combined 5,536 rental units and reported a vacancy rate of less than 1%.
“Not only is renting unaffordable for many in North Idaho, there’s also a real problem with availability,” Miller said.
Most of the property managers surveyed said they are renting units on a first-come, first-serve basis. The exception is low-income rentals, in which case a waitlist is mandatory. One property manager said waitlists for their low-income properties had an average wait of one to two years.
Though the Regional Housing & Growth Issues Partnership was aware of increasing rental prices and limited availability, Miller said CDA2030’s rental survey provides real-time, local data that will guide efforts to provide resources and solutions that address local worker housing needs in Kootenai County.
To learn more about the Regional Housing & Growth Issues Partnership, visit rhgip.com.