As people flew the west coast in search of a slower-paced lifestyle, it’s no wonder that they come to Idaho. With its four seasons, beautiful landscape, and farming-roots, Idaho is a beautiful place to live. Besides its grand beauty, Idaho is also growing in business—making it this state a prime opportunity for real estate. Here are five places in Idaho you should consider investing in.
Boise is not only the capital of Idaho but also its largest city. The city of trees is a growing metropolis and the home of Boise State University. Boise, due to being the hub of Idaho, is a popular city and is constantly growing. More than half of the properties in Boise are owned with a median home value of $191,000 and with 65% of the rentals costing $500-999 monthly. Because Boise appeals to many audiences, including families and students, investing in this city is wise. The market is lucrative enough that you can expect your home to be worth more in the coming years, though if you simply decide to rent, you’ll probably have many interested tenants.
As a suburb of Boise, Meridian is quickly growing and making way for new properties to rent and buy. While many residents come to escape the busy scene of Boise, the fact that downtown is just a twenty-minute drive, depending on traffic, appeals to many buyers. The median home value in Meridian is $221,300 while rent is $1,016. Many residents own their homes which, since Meridian ranked as the ninth-best place to live on money.com in 2019, isn’t surprising. With jobs in this area providing new opportunities and the short to commute to Boise, consider looking into Meridian when you are ready to move.
As the residents who live there say, they are “Proud to be Pocatello.” Pocatello is the first major city north of the Utah border, just an hour and a half from Tremonton, Utah, which is why it is sometimes referred to as the Gate City. Pocatello is home to the Idaho State University Bengals, though they are much more than just a college town. Pocatello also boasts business and outdoor recreational opportunities. The median house price in this city is just $133,700, making it a very affordable place to find a home.
Rexburg, Idaho, is a small town, with the population being approximately 27,000 people, along the highway to Island Park and Yellowstone. While it may seem like a town off the beaten path, Rexburg is home to Brigham Young University-Idaho, which brings many students and jobs to the area. The average cost of living in Rexburg is 8.4% lower than the U.S. average, making the median-priced homes of $251,700 more affordable for residents. If you are looking for the charm of a smaller-sized town, consider touring homes in Rexburg.
As the third-largest city in Idaho with 60,000 residents, Idaho Falls is an up-and-coming place to live. The city is showing strong growth in the economy while the cost of living is about 10% lower than the national average. The current housing market is very promising with value rising 15% from 2018-2019 and the median of homes at $250,000. Besides being situated in a place with a fair economy, Idaho Falls is also close to many parks and other outdoor amenities, like Grand Teton National Park and Yellowstone.
Idaho is a growing state with the rising potential for real estate. Take advantage of the current market by investing in a property in one of these towns. And if you need a property management team for your rental properties in any of these locations, give us a call.