Boise, ID Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Boise, ID Housing Market Trends

With a population of 228,959, 91,555 total housing units (homes and apartments), and a median house value of $365,612, Boise real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Boise, accounting for 65.02% of the city's housing units. Other types of housing that are prevalent in Boise include large apartment complexes or high rise apartments ( 16.43%), duplexes, homes converted to apartments or other small apartment buildings ( 8.76%), and a few row houses and other attached homes ( 5.84%).

The most prevalent building size and type in Boise are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.01% owning and 39.99% renting.

There is a lot of housing in Boise built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Boise built between 1940-1969 ( 18.62%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.44%). There's also some housing in Boise built before 1939 ( 6.18%).

Boise Home Appreciation Rates

In the last 10 years, Boise has experienced some of the highest home appreciation rates of any community in the nation. Boise real estate appreciated 162.52% over the last ten years, which is an average annual home appreciation rate of 10.13%, putting Boise in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Boise definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Boise that despite a nationwide downturn in the housing market, Boise real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Boise appreciation rates continue to be some of the highest in America, at 15.13%, which is higher than appreciation rates in 99.25% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Boise. Boise appreciation rates in the latest quarter were at 4.53%, which equates to an annual appreciation rate of 19.41%.

Importantly, NeighborhoodScout’s exclusive research found that Boise's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Idaho, our data show that Boise's latest annual appreciation rate is higher than 80% of the other cities and towns in Idaho.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Boise differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Boise - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Boise real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$365,612

Boise, ID HOME PRICES

> $1,510,000
1.0%
1.0%
$1,132,001 - $1,510,000
1.7%
1.7%
$755,001 - $1,132,000
6.5%
6.5%
$604,001 - $755,000
7.9%
7.9%
$453,001 - $604,000
17.9%
17.9%
$302,001 - $453,000
30.8%
30.8%
$151,001 - $302,000
27.9%
27.9%
$76,001 - $151,000
2.0%
2.0%
$0 - $76,000
4.3%
4.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for ID

Value Relative To Nation

Number Of Homes And Apartments:
91,555

Boise Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ID*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
193.03% 5.19%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,381 / per month

Homeownership Rate

Owners
60.0%
60.0%
Renters
40.0%
40.0%
Vacant
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
18.4%
18.4%
1970 - 1999
56.8%
56.8%
1940 - 1969
18.6%
18.6%
1939 or Older
6.2%
6.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.0%
65.0%
Townhomes
5.8%
5.8%
Small Apt. Buildings
8.8%
8.8%
Apt. Complexes
16.4%
16.4%
Mobile Homes
3.9%
3.9%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.6%
2.6%
1 Bedroom
9.4%
9.4%
2 Bedrooms
26.1%
26.1%
3 Bedrooms
39.2%
39.2%
4 Bedrooms
17.6%
17.6%
5 or more bedrooms
5.1%
5.1%
0.0% 100.0%
% OF HOMES