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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Boise Housing Market Information

With a population of 218,281, 86,916 total housing units (homes and apartments), and a median house value of $256,148, 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 65.35% of the city's housing units. Other types of housing that are prevalent in Boise include large apartment complexes or high rise apartments ( 15.61%), duplexes, homes converted to apartments or other small apartment buildings ( 9.66%), and a few row houses and other attached homes ( 5.70%).

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 58.72% owning and 41.28% 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 ( 20.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.01%). There's also some housing in Boise built before 1939 ( 6.65%).

Boise Home Appreciation Rates

Appreciation rates for homes in Boise have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.58%, which ranks in the top 50% nationwide. This equates to an annual average Boise house appreciation rate of 0.54%.

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 12.30%, which is higher than appreciation rates in 97.78% 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 5.42%, which equates to an annual appreciation rate of 23.50%.

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 90% 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:
$256,148

Boise, ID HOME PRICES

Value Range
> $1,424,000 0.8
$1,068,001 - $1,424,000 0.8
$712,001 - $1,068,000 3.3
$570,001 - $712,000 4.2
$427,001 - $570,000 8.9
$285,001 - $427,000 22.2
$142,001 - $285,000 47.3
$71,001 - $142,000 7.2
$0 - $71,000 5.3

Very High for ID
High for Nation

Value Relative to Nation Value Relative to State
22.5832894197553 16.260162601626

Number Of Homes And Apartments:
86,916

Boise Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ID*
Compared To
America*
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
86.25% 3.62% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,145 / per month

Homeownership Rate

Homeownership
Owners 58.72
Renters 41.28
Vacant 5.70

Housing Market Details

 

Age of Homes

AGE OF Boise HOMES
2000 or Newer 15.0
1970 - 1999 57.8
1940 - 1969 20.5
1939 or Older 6.7

Types of Homes

TYPE OF Boise HOMES
Single-Family 65.3
Townhomes 5.7
Small Apt. Buildings 9.7
Apt. Complexes 15.6
Mobile Homes 3.6
Other 0.1

Home Size

SIZE OF Boise HOMES
No Bedroom 2.01
1 Bedroom 9.74
2 Bedrooms 27.70
3 Bedrooms 39.45
4 Bedrooms 15.25
5 or more bedrooms 5.86