Best Real Estate Investment Markets in Idaho

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Contributor, Benzinga
February 28, 2023

The beautiful state of Idaho has a growing population and a strong economy. The real estate market in Idaho has seen significant growth in recent years, making it an attractive investment opportunity for many. In this article, Benzinga takes a closer look at the six best real estate investment markets in Idaho.

Boise

Boise is the capital city of Idaho and the largest city in the state. It has a population of over 470,000 and is known for its beautiful natural scenery, outdoor recreation opportunities and growing economy. The real estate market in Boise has seen strong growth in recent years, with home prices rising by over 10% in 2021. However, 2022 saw a 1.2% decline in home prices in conjunction with a national cooling of the housing market.

Pros:

  • Strong job growth in a variety of industries, including technology, healthcare and manufacturing
  • Growing population and demand for housing
  • Diversified economy with a variety of job opportunities

Cons:

  • Limited supply of available housing, leading to competition among buyers and potential affordability issues
  • Vulnerable to economic downturns, as the growth of certain industries could slow down
  • High demand could lead to a more competitive market for investors

Meridian

Meridian is a city located just west of Boise with a population of over 130,000. It is one of the fastest-growing cities in Idaho and has seen significant development in recent years. The real estate market in Meridian has been strong, with home prices rising by 5.6% in 2022.

Pros:

  • Rapid population growth and high demand for housing
  • Strong job growth, particularly in the technology and healthcare sectors
  • Strong school district and high quality of life

Cons:

  • High demand could lead to a more competitive market for investors
  • Limited supply of available housing, leading to potential affordability issues for buyers
  • Vulnerable to economic downturns, as the growth of certain industries could slow down

Idaho Falls

Idaho Falls is a city located in eastern Idaho with a population of over 67,000. It is known for its beautiful natural scenery and a strong economy. The real estate market in Idaho Falls has been steady in 2022.

Pros:

  • Affordable housing prices compared to other cities in Idaho
  • Strong job growth in a variety of industries, including healthcare, education and energy
  • High quality of life and strong community

Cons:

  • Limited supply of available housing in some areas, leading to potential affordability issues for buyers
  • Lower population growth compared to some other cities in Idaho
  • Vulnerable to fluctuations in the energy industry, which is a significant part of the local economy

Pocatello

Pocatello is a city located in southeastern Idaho with a population of over 56,000. It is known for its beautiful natural scenery and a strong economy. The real estate market in Pocatello has been steady, with home prices rising by over 3.5% in 2022.

Pros:

  • Affordable housing prices compared to other cities in Idaho
  • Strong job growth in a variety of industries, including healthcare, education and manufacturing
  • High quality of life and strong community

Cons:

  • Limited supply of available housing in some areas, leading to potential affordability issues for buyers
  • Lower population growth compared to some other cities in Idaho
  • Vulnerable to fluctuations in the manufacturing industry, which is a significant part of the local economy

Nampa

Nampa is a city located just west of Boise with a population of over 106,000. It is one of the fastest-growing cities in Idaho and has seen significant development in recent years. The real estate market in Nampa followed national trends, with home prices dropping by 2.4% in 2022.

Pros:

  • Rapid population growth and high demand for housing
  • Strong job growth, particularly in the healthcare and education sectors
  • Affordable housing prices compared to other cities in Idaho

Cons:

  • Limited supply of available housing, leading to potential affordability issues for buyers
  • Vulnerable to economic downturns, as the growth of certain industries could slow down
  • High demand could lead to a more competitive market for investors

Coeur d'Alene

Coeur d'Alene is a city located in northern Idaho with a population of almost 60,000. It is known for its beautiful natural scenery, outdoor recreation opportunities and a strong economy. The real estate market in Coeur d'Alene has cooled, with home prices decreasing by about 21% in 2022, presenting an opportunity for growth.

Pros:

  • Strong job growth in a variety of industries, including healthcare, technology and hospitality
  • High quality of life and strong community
  • Diversified economy with a variety of job opportunities

Cons:

  • Limited supply of available housing, leading to potential affordability issues for buyers
  • Vulnerable to fluctuations in the hospitality industry, which is a significant part of the local economy
  • High demand could lead to a more competitive market for investors

How to Invest in Real Estate in Idaho

Real estate investing platforms offer numerous benefits for novice and experienced investors. These platforms provide investors with access to a range of investment opportunities that they may not have otherwise been able to access, such as commercial real estate, without the need for substantial capital. These factors can allow for greater diversification of investment portfolios, which can help to mitigate risk. Additionally, real estate investing platforms provide investors with a streamlined and convenient way to manage their investments, offering features such as online portfolio tracking and automated dividend reinvestment. These features allow investors to easily monitor and adjust their portfolios in real time. 

Real estate investing platforms often have lower fees and minimum investment requirements than traditional investment vehicles, making them an accessible and cost-effective option for those looking to invest in real estate.

Compare real estate investing platforms below.

Final Thoughts on the Idaho Real Estate Market

The real estate market in Idaho offers many investment opportunities for those looking to invest in a growing market with a strong economy. The six best real estate investment markets in Idaho offer a variety of benefits and drawbacks, and it is important for investors to consider their options before making a decision. With the right research and due diligence, investors can find success in the Idaho real estate market.

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