Are you looking to get into real estate investments? Maybe you’re thinking about setting up some rental properties for a nice passive income. If you have the money to invest, this is a good, sound strategy for bringing in a nice ROI, especially if you’re looking at the Idaho Falls area.
Idaho Falls is home to more than 60 thousand residents, with more than 100,000 living in the surrounding metropolitan area. With three hospitals and several medical practices in every specialty, Idaho Falls is a healthcare hub for Eastern Idaho, Southern Montana, and Western Wyoming. The commercial entities are constantly growing and expanding as well. This business-oriented area is constantly growing and expanding on job opportunities for the continual influx of residents.
College Students (and Graduates)
With Idaho State University, the University of Idaho, the College of Eastern Idaho, and BYU-Idaho all in close proximity, there is a consistent flow of people who need affordable rentals in the area. And many of these students stay in the area after they graduate and enter the local job market.
Affordable Real Estate
Real estate is so affordable in Idaho Falls compared to other places. The average home price is around $200,000, which is a great deal if you compare to the west coast (and even Boise!) prices. Because of this, more and more people are moving west and have a need for rentals while they look for a home to buy.
The average age of an Idaho Falls resident is 32 years old - which is 8 years less than the national average. With younger residents and college students settling down and starting families, we can expect the population of this city and surrounding cities to continue to grow.
Because of all of the reasons listed above, the demand for rentals is ever-growing in this area - which means landlords are able to increase rent prices to make a greater profit. Idaho Falls is a desirable location to live and has been in a constant state of growth that doesn’t appear to be slowing down anytime soon.
These are only a few of many reasons to invest in the Idaho Falls real estate market. And when you do, let us know. We would love to help manage your properties and keep them filled with reliable tenants.