Boise ID
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Boise, ID Real Estate Data

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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Boise Housing Market Information

With 228,790 people, 89,975 houses or apartments, and a median cost of homes of $325,277, 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 64.91% of the city's housing units. Other types of housing that are prevalent in Boise include large apartment complexes or high rise apartments ( 16.35%), duplexes, homes converted to apartments or other small apartment buildings ( 9.08%), and a few row houses and other attached homes ( 5.80%).

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 59.41% owning and 40.59% 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 ( 18.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.61%). There's also some housing in Boise built before 1939 ( 6.30%).

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 107.67% over the last ten years, which is an average annual home appreciation rate of 7.58%, 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 9.78%, which is higher than appreciation rates in 98.22% 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 1.92%, which equates to an annual appreciation rate of 7.91%.

Importantly, this makes Boise one of the highest appreciating communities in the nation for the latest quarter, and 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 70% 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:
$325,277

Boise, ID HOME PRICES

Value Range
> $1,502,000 0.8
$1,127,001 - $1,502,000 1.5
$751,001 - $1,127,000 4.8
$601,001 - $751,000 7.1
$451,001 - $601,000 15.0
$300,001 - $451,000 29.4
$150,001 - $300,000 34.0
$75,001 - $150,000 3.0
$0 - $75,000 4.4

High for ID
Very High for Nation

Value Relative to Nation Value Relative to State
18.4642335766423 21.7741935483871

Number Of Homes And Apartments:
89,975

Boise Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ID*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
162.60% 4.82%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,358 / per month

Homeownership Rate

Homeownership
Owners 59.41
Renters 40.59
Vacant 5.39

Housing Market Details

 

Age of Homes

AGE OF Boise HOMES
2000 or Newer 17.6
1970 - 1999 57.5
1940 - 1969 18.6
1939 or Older 6.3

Types of Homes

TYPE OF Boise HOMES
Single-Family 64.9
Townhomes 5.8
Small Apt. Buildings 9.1
Apt. Complexes 16.4
Mobile Homes 3.8
Other 0.0

Home Size

SIZE OF Boise HOMES
No Bedroom 2.65
1 Bedroom 9.75
2 Bedrooms 26.65
3 Bedrooms 39.08
4 Bedrooms 16.74
5 or more bedrooms 5.13