Boise, ID—83702
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Boise, ID
As of Oct '25, the median home price in Boise, ID is $695,000, with a year-over-year change of 1.6%. This indicates that home prices in Boise, ID are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $695,000 | 1.6% |
| Single Family | $727,000 | 2.0% |
| Condos | $445,000 | 1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $407,000 | 3.6% |
2 Bed | $530,000 | 1.7% |
3 Bed | $722,000 | 2.1% |
4 Bed | $951,000 | 3.1% |
| 5 Bed | $1,193,000 | 3.8% |
% of Housing Stock
Rental Trends — Boise, ID
As of July '25, Rentcast reports the average rent in Boise, ID is $1,880, with a year-over-year rent change of -4.1%. Per bedroom, the median rent as of July '25 in Boise, ID is studios: $1,220, 1-bedrooms: $1,470, 2-bedrooms: $1,870, 3-bedrooms: $2,610, 4-bedrooms: $3,560. The most common rental property sizes in Boise, ID are 1-bedroom and 2-bedroom, accounting for 40.1% and 38.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,880 |
| Studio Rent | $1,300 | $1,220 |
| 1 Bed Rent | $1,480 | $1,470 |
| 2 Bed Rent | $1,700 | $1,870 |
| 3 Bed Rent | $2,800 | $2,610 |
| 4 Bed Rent | $3,650 | $3,560 |
% of Rental Stock
Property Listings — Boise, ID
As of Oct '25, Realtor.com reports that the median days on market for a home in Boise, ID is 47. This is a increase of 13.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $845,000 | 5.0% |
Listing Count | 119 | 29.0% |
| Listings as % of Homes | 0.5% | 29.0% |
Days on Market | 47 | 13.0% |
Demographics — Boise, ID
As of the latest ACS Survey released in 2023, Boise, ID has a population of 24,000, which has increased by 7.2% over the past 5 years. Boise, ID is a moderately popular place for families, as children make up 16.8% of the population. The area has a highly educated workforce, with 60.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | 7.2% |
% Under 18 | 16.8% | -9.7% |
% Seniors | 13.3% | 0.0% |
% WFH | 23.8% | 197.5% |
% w/ College Degree | 60.9% | 5.2% |
As of the latest ACS Survey released in 2023, Boise, ID is a predominantly white area, with 83.5% of the population identifying as white. The white population has shrunk by 4.5% in the last 5 years. The second most common race or ethnicity in Boise, ID is hispanic, making up 8.4% of the population. Foreign-born residents account for 5.3% of the population in Boise, ID, and this percentage has increased by 20.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 83.5% | -4.5% |
% Black | 0.8% | -33.3% |
% Hispanic | 8.4% | 27.3% |
% Asian | 2.0% | 53.8% |
% Foreign Born | 5.3% | 20.5% |
Mortgage and Risk — Boise, ID
According to HUD data as of 2023, there were 440 mortgage originations in Boise, ID, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Boise, ID. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 440 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Boise, ID
As of 2024, the percent of homes in Boise, ID under the Section 8 program is 12.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Boise, ID, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 874 |
Total Units Section 8 | 673 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 90.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,480 | $1,340 |
| 2 Bedroom | -$100 | $1,700 | $1,600 |
| 3 Bedroom | -$560 | $2,800 | $2,240 |
| 4 Bedroom | -$970 | $3,650 | $2,680 |
Affordability — Boise, ID
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.3 |
| Median Home Price | $695,000 |
| Median Household Income | $82,600 |