Treasure Valley Rent Market by City
Property Management in Boise, Idaho
Boise is both the largest city and the capital city of Idaho. It boasts a vibrant downtown, foothill access, and a popular greenbelt. Bogus Basin, a ski resort is about 45 minutes from downtown (longer in the winter due to traffic and icy roads). Locals head to Lucky Peak Reservoir to swim, fish and boat in the summer. Floating the Boise River, visiting its vibrant downtown restaurants, and hiking the foothills are all popular activities. Boise State University is located in Boise next to the Greenbelt and minutes from downtown. Boise is also home to the Boise Airport.
Boise has the largest and most varied single family rental market of the cities we track, with roughly 200 to 350 single family rentals typically available at a given time. Because that inventory spans very different neighborhoods, property ages, and price points, citywide averages only tell part of the story. Our historical data shows meaningful seasonal movement in both available inventory and days on market, with leasing conditions generally improving as the market moves into spring and summer and slowing during the fall and winter. For Boise rental owners, location, condition, and how the rental compares with nearby competition are particularly important when determining rent and expected leasing time.
Property Management in Eagle, Idaho
Eagle Idaho sits just west of Boise, about a twenty-minute drive down State Street from downtown. Eagle features a walkable downtown with a variety of restaurants and shops. Eagle boarders the foothills, and it’s not uncommon to see horse properties and multi-acre lots in the area. It's downtown are has developed quite a bit in the last few years, and is now home to various restaurants and brewery. Other areas of Eagle have also been built out with everything from Chick-fil-A to higher end restaurants like Crave.
Eagle is a considerably smaller rental market, generally with around 35 to 60 single family rentals available at a given time. Its smaller inventory and higher price points can make performance more variable than in larger markets such as Boise or Meridian. Our historical data shows that low supply does not always translate into shorter leasing times, with days on market sometimes increasing as asking rents move higher. For owners, pricing is particularly important because the cost of extended vacancy can quickly outweigh the benefit of achieving a higher monthly rent.
Property Management in Meridian, Idaho
Meridian, Idaho is located just south of Eagle and west of Boise. It's consistently ranked among the top 10-15 fastest growing cities and is the second largest city in Idaho. Eagle Road, which passes through Meridian, is a major thoroughfare connecting the freeway with northern Treasure Valley. Meridian is home to many restaurants, hotels, and retail areas including the Village at Meridian, an upscaled outdoor shopping mall complete with European style architecture, retail, restaurants, cinema and office space. In recent years, development has expanded West towards Ten Mile, as well as in South Meridian where a new Costco and various other amenities are popping up. Northern Meridian is also growing near the Ten Mile and Black Cat area, especially as efforts continue to punch through Highway 16 from the freeway to Emmett.
Meridian is the second largest single family rental market we track, with roughly 125 to 200 rentals typically available at a given time. It has a sizable inventory of newer rentals and has historically been one of the more consistent markets in the Valley, although leasing activity still changes with the season. Our data also shows that available inventory can shift considerably without creating equally large swings in rent. For Meridian owners, the individual rental's location, layout, age, finishes, and nearby competition often matter more than a citywide average when determining market rent.
Property Management in Star, Idaho
Star is located West of Eagle. It is located in both Ada and Canyon Counties. Star is home to a small but growing number of restaurants, shops and wineries. Albertsons recently built a new grocery store to serve Star residents. Though it's a smaller and less known city than it's neighbors to the East, we generally see strong demand in the area. As with many areas of the Treasure Valley, new home construction is constant as people look for something with a small town feel.
Star is also a relatively small single family rental market, generally with around 30 to 50 rentals available at a given time. What makes Star different is that build for rent communities can represent a meaningful portion of that inventory and influence both renter expectations and pricing. Our historical data shows considerable swings in inventory and days on market from one season to another. For individual owners, evaluating a rental against both traditionally owned rentals and nearby build for rent competition is important when determining price and positioning.
Property Management in Nampa, Idaho
Nampa is on the western side of the Treasure Valley and is home to the Ford Idaho Center. Agribusiness, food processing and manufacturing are all part of the Nampa economy. Areas in South Nampa and North Nampa are seeing new construction developments. It's the third largest city in Idaho.
Nampa also has a sizable single family rental market, generally with around 100 to 150 rentals available at a given time. Asking rents tend to be lower than Boise, Meridian, Eagle, and Star, while leasing times can vary substantially throughout the year. Slower periods can produce longer days on market even when the number of available rentals is relatively limited, making Nampa a good example of why supply alone does not determine rental performance. Pricing needs to account for both competing rentals and the depth of renter demand at a particular time of year.