State: Idaho
The Boise real estate market is one of the hottest in the country. In fact, it’s listed as a top 20 market on PWC’s Emerging Trends in Real Estate 2022 report, along with Miami, Nashville, and San Diego.
Boise is listed in the report as a supernova magnet market. Why? It has a rapidly growing population with limited housing supply and high demand. Demand is so high that Boise averages only a month’s worth of housing inventory. In fact, homes for sale typically sell within 34 days.
The city’s growth, affordability, and home price appreciation should put it on any real estate investor’s list.
Real estate investors can find nearly every property type in Treasure Valley, Idaho. Whether you’re looking to invest in a condo, duplex, triplex, fourplex, or other multi-family housing units or a single-family home, the Boise area’s move-in ready income properties are for you.
Boise is home to many great suburbs for real estate investors to consider. They include Caldwell, Eagle, Kuna, Meridian, and Nampa.
Boise is a magnet real estate market with affordable housing, steady home price appreciation, and a robust rental market.
According to Realtor, the median listing price in Boise is $324 per square foot with a median sale price of $585,000. Zillow’s Home Value Index reports an 11.1% change since last year. The median rent in Boise is $2,130 per month.
Boise’s population growth has driven demand for rental properties. In fact, 39% of households in Boise are renter-occupied, and the city only has a 2% vacancy rate.
Affordability, appreciation, and demand combine to present a great investment opportunity for home buyers, real estate investors, and property management companies to increase their cash flow.
Boise’s real estate market isn’t the only thing booming. The city’s population grew by 8% from 2018 to 2021. That’s a faster growth rate than Fayetteville. Boise’s the largest city in Idaho, and its growth is projected to slow down anytime soon.
Domestic migration of people and businesses from the high-tax state of California is the biggest driver behind Boise’s growth. They’re drawn to the city’s affordability and idyllic location in Treasure Valley.
Boise’s primary industries are technology, manufacturing, food production, and energy. Hewlett-Packard, Boise Cascade, Amalgamated Sugar Company, and Idaho Power are the largest employers. These employers provide stable, well-paying jobs that fuel the city’s economic stability and growth. Boise’s unemployment rate is just 2.7%.
In Boise, population growth, affordability, and home price appreciation combine with a solid rental market and local economy to create tremendous investment opportunities.
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