If you like changing seasons, diverse cultures, and outdoor recreation; Boise, ID is for you. It is one of the Pacific Northwest's fastest-growing cities. Boise offers a low unemployment rate. The cost of living in the city is also comparable to the national average. Residents of Boise spend their days working in high-paying tech and corporate positions. Weekends are for hiking, bicycling, fishing, kayaking, and partaking in other outdoor activities. It is one of those rare places that provides big-city amenities at a small-town price. But, things can be different in the City of Trees, and moving here from another city can be a challenge. Continue reading to learn more about Boise and other information about the city.
Quick Facts
- The average household income in Boise is $82,424, and the poverty rate is 13.75%.
- The median rental cost has been $957 per month in recent years.
- The median house price in the area is $253,400.
- The metropolitan region of Boise City-Nampa is growing at 1.7% per year, with job growth keeping pace.
- It is Idaho's largest city, with a population of 230,510 people in 2020.
Boise, ID in a Nutshell
The lifestyle Boise offers is a key reason many individuals moved to the city in the last decade. Whether you prefer art, the outdoors, nightlife, or food, there is much to do. Families and singles are welcome in the City of Trees, and finding your niche is simple once you arrive. Consider moving to Boise if you want an excellent quality of life at a lesser cost. Despite being Idaho's largest city, it is still an inexpensive location to live. Various sources also dubbed Boise the best city in the United States for millennials. This title is appropriate because of Boise's tech scene and affordable healthcare. Boise is one of the few cities that can provide big-city conveniences at a small-town price.
Economy
Boise originated as a supply and service center for the nearby mountain mining sites. Now, Boise is a vital commercial hub for smaller communities and agricultural operations nowadays. Farming and lumber also played significant roles in the growth of the Boise economy. Moreover, since Boise is Idaho's capital, the state government is its largest employer. Another vital source of revenue for Boise is tourism. High-tech companies are also becoming an important sector. Boise has a lower unemployment rate than the national average of 3.3%, at 2.3%.
Employment
Boise provides a distinct home/work-life balance compared to other Northwestern cities. In fact, according to Business Insider, the startup job market in Boise is booming. And because of this growth, large tech companies are moving from Silicon Valley to Boise. Younger citizens are also relocating from expensive cities to this Pacific Northwest community. A primary attribute to this is the more inexpensive housing in Boise. It is easy to see why so many individuals are considering relocating to Boise for employment. Additionally, the city's unemployment rate is only 2.3%, lower than Idaho and the rest of the country.
Real Estate in Boise, ID
The city is very affordable if you moved here within the last five years. While Boise used to be one of the more affordable housing markets, things have changed over time. Boise's home prices have risen, making it one of the country's most popular real estate markets. The median sale price of a home in Boise Metro was $525,000 at the end of 2021, up 23.14% from 2020. But, living in Boise is still reasonable compared to other neighboring cities. In general, Boise's cost of living is 1.2% lower than the national average. The average cost of real estate in this magnificent city is around $475,000. There are residences ranging from $65,000 to well over $7 million. There is something for everyone's tastes and budget.
Real Estate Trends
The median listing property price in Boise, according to Realtor.com, is $515,000. This pricing is more than the $293,000 national median home listing price. Real estate prices are only going to continue rising. Year-over-year, home prices have increased by 33.8%. According to the most recent U.S. Census, there are 102,182 households in Boise and 289,371 in the metropolitan area. In Boise, roughly 61% of housing units are owner-occupied, and 39% are rentals. You will pay an average of $1,679 per month if you choose to rent. This cost is about a quarter-million dollars more than you would have spent three years ago.
Final Thoughts
In general, the assumption is correct: Boise is as popular as ever. This case is more significant when compared to other western metro areas. In Boise, you will find affordability and a sense of community to your liking. Depending on what you are looking for, Boise might be the city for you.
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