Boise, ID—83704
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 $416,000, with a year-over-year change of -0.7%. This indicates that home prices in Boise, ID are flat. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $416,000 | -0.7% |
| Single Family | $419,000 | -0.7% |
| Condos | $275,000 | -2.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $244,000 | -0.4% |
2 Bed | $334,000 | -2.3% |
3 Bed | $408,000 | -1.0% |
4 Bed | $490,000 | 0.4% |
| 5 Bed | $569,000 | 1.6% |
% of Housing Stock
Rental Trends — Boise, ID
As of July '25, Rentcast reports the average rent in Boise, ID is $1,600, with a year-over-year rent change of -0.6%. Per bedroom, the median rent as of July '25 in Boise, ID is 1-bedrooms: $1,320, 2-bedrooms: $1,400, 3-bedrooms: $1,970, 4-bedrooms: $2,640. The most common rental property sizes in Boise, ID are 2-bedroom and 3-bedroom, accounting for 51.5% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,480 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,360 | $1,320 |
| 2 Bed Rent | $1,400 | $1,400 |
| 3 Bed Rent | $1,950 | $1,970 |
| 4 Bed Rent | $2,500 | $2,640 |
% 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 44. This is a increase of 2.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $457,000 | 5.0% |
Listing Count | 137 | 24.0% |
| Listings as % of Homes | 0.3% | 24.0% |
Days on Market | 44 | 2.0% |
Demographics — Boise, ID
As of the latest ACS Survey released in 2023, Boise, ID has a population of 41,400, which has increased by 2.5% over the past 5 years. Boise, ID is a moderately popular place for families, as children make up 18.1% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 41,400 | 2.5% |
% Under 18 | 18.1% | -16.6% |
% Seniors | 18.2% | 18.2% |
% WFH | 12.4% | 143.1% |
% w/ College Degree | 32.2% | 13.4% |
As of the latest ACS Survey released in 2023, Boise, ID is a predominantly white area, with 76.8% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Boise, ID is hispanic, making up 14.4% of the population. Foreign-born residents account for 7.5% of the population in Boise, ID, and this percentage has decreased by 20.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.8% | -2.0% |
% Black | 1.4% | -30.0% |
% Hispanic | 14.4% | 0.7% |
% Asian | 2.0% | 0.0% |
% Foreign Born | 7.5% | -20.2% |
Mortgage and Risk — Boise, ID
According to HUD data as of 2023, there were 741 mortgage originations in Boise, ID, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Boise, ID. Investor activity is low, as 3.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 741 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Boise, ID
As of 2024, the percent of homes in Boise, ID under the Section 8 program is 4.2%. 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, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 306 |
Total Units Section 8 | 256 |
% Rentals under Section 8 | 4.2% |
% Occupied Section 8 | 92.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,360 | $1,470 |
| 2 Bedroom | $360 | $1,400 | $1,760 |
| 3 Bedroom | $520 | $1,950 | $2,470 |
| 4 Bedroom | $450 | $2,500 | $2,950 |
Affordability — Boise, ID
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $416,000 |
| Median Household Income | $70,800 |