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Commonly Asked Questions about Idaho Real Estate

$460,288. The average Idaho home value is $460,288, up 2.4% over the past year and goes to pending in around 20 days.
Idaho Housing Market Overview What is the housing market like right now? In June 2024, home prices in Idaho were up 4.1% compared to last year, selling for a median price.
Across Idaho, there is a shortage of rental homes affordable and available to extremely low income households (ELI), whose incomes are at or below the poverty guideline or 30% of their area median income (AMI). Many of these households are severely cost burdened, spending more than half of their income on housing.
The Gem State has a relatively low cost of living compared to other states. A low living cost can benefit people looking to save money on housing, food, and other living expenses.
Find out what income you need to maintain your standard of living in a different city and how much more or less money you need to budget for basic expenses. The cost of living in Idaho is 6% lower than the national average. Housing is 16% lower than the national average, while utilities are 15% lower.
Demand from buyers less sensitive to interest rates, combined with a limited supply of homes on the market, is driving above-average growth in home prices this spring. Although the number of available homes for sale has gradually increased, it remains at levels typically seen in extreme sellers markets.
Boises cost of living index was 106.1 making it more expensive than the average city but a median household income of $81,425, tax burden per capita of $5,402 and unemployment rate of 1.9% helped the city shoot into the top 10.
Recent discussions around Idahos housing market suggest that the recent growth has been fueled by high demand and low supply (Boise Regional Realtors, 2022; Shirah Matsuzawa, 2021). The general argument is that home prices are going up due to migration inflows from other states.