Treasure Valley
Rental Market Update

KEY TAKEAWAYS

Boise single family rents have remained higher than last year throughout Q3. Asking rents have ranged from $2,395 to $2,650 this quarter, compared with $2,250 to $2,300 in the Q3 2025 data.

The underlying data gives us more context. In Q3 2025, days on market ranged from 40 to 43 days, with 293 to 355 available rentals. In Q3 2026, days on market have ranged from 36 to 44 days, while available inventory has dropped considerably to 191 to 226 rentals.

That means Boise has significantly less supply than it did last year, while days on market have remained relatively similar. At the same time, asking rents have moved considerably higher.

Lower inventory should give landlords more pricing power, and we are seeing that reflected in asking rents. However, the fact that days on market have not declined along with inventory suggests renters are still sensitive to price. The market appears capable of supporting higher asking rents, but landlords still need to be careful not to push beyond what renters see as a reasonable value.

KEY TAKEAWAYS

Eagle continues to stand out from the other markets we track. Asking rents have ranged from $2,950 to $3,200 during Q3 2026, compared with $2,695 to $2,900 in the Q3 2025 data.

However, days on market tell a much different story. During Q3 2025, days on market ranged from 42 to 54 days. This quarter, we have seen a range from 56 to 86 days. As of September 26, Eagle was sitting at 80 days on market.

What makes this particularly notable is that supply has not increased. Q3 2025 inventory ranged from 36 to 47 available rentals. This year, it has ranged from 33 to 50.

Landlords are asking considerably more for Eagle rentals without a meaningful increase in available competition, but rentals are taking longer to lease. That suggests the market may not be fully supporting the higher asking rents.

At a $3,000 monthly rent, two months of vacancy represents $6,000 in unrealized rent. Vacancy kills returns. That is why we continue to weigh it so heavily when making pricing recommendations, particularly in higher rent markets like Eagle.

KEY TAKEAWAYS

Meridian continues to be one of the more stable markets we track. Asking rents in Q3 2026 have ranged from $2,500 to $2,650, compared with $2,400 to $2,500 in the Q3 2025 data.

Days on market are higher than last year, but the difference is relatively modest. Q3 2025 ranged from 26 to 35 days, while Q3 2026 has ranged from 33 to 41 days.

The bigger change is supply. Available rentals during Q3 2025 ranged from 172 to 195. This year, supply has ranged from 113 to 154.

Meridian has considerably fewer rentals available than last year and higher asking rents, but days on market have still increased. Similar to Boise, this suggests the market is supporting some rent growth, but renters remain price sensitive.

As of September 26, Meridian was at $2,595 average asking rent, 34 days on market, and just 113 available single family rentals.

KEY TAKEAWAYS

Star has been one of the more interesting markets to watch this year. Earlier in 2026, days on market reached as high as 72 days. That changed considerably heading into Q3.

During Q3 2025, days on market ranged from 38 to 43 days. In Q3 2026, that range has dropped to 17 to 30 days. At the same time, asking rents have increased from a Q3 2025 range of $2,436 to $2,500 to a Q3 2026 range of $2,575 to $2,700.

Inventory has remained relatively low. Available rentals ranged from 44 to 49 in the Q3 2025 data, compared with 31 to 49 this quarter.

Unlike what we saw earlier in the year, Star's Q3 numbers show that current pricing has continued to produce relatively short days on market despite the seasonal slowdown. As of September 26, average asking rent was $2,700 with 30 days on market and 47 available rentals.

If you have been following our rent analysis, it is worth mentioning that AMH has multiple build for rent communities in Star. Just like previous analysis, these rentals make up a significant portion of Star's single family rental supply. Because we manage quite a few rentals in Star, we account for these communities when evaluating pricing and competition for our owners.

KEY TAKEAWAYS

Nampa is showing one of the clearer signs of a slower leasing market heading into fall.

Asking rents have generally remained in the low $2,200s during Q3, ranging from $2,200 to $2,300. As of September 26, the average asking rent was $2,225. At a similar point last year, average asking rent was $2,200.

The bigger story is days on market. Q3 2026 has ranged from 53 to 67 days. In the available Q3 2025 data, days on market ranged from 40 to 51 days. As of September 26, Nampa was sitting at 67 days on market.

That increase is particularly notable because there are fewer rentals available. Nampa had 121 available single family rentals on September 17, 2025. As of September 26 this year, there were 96.

Normally, lower supply would give landlords more pricing power. Instead, we are seeing fewer available rentals coupled with longer days on market. That points more toward softer renter demand than excess competition between landlords.