Boise rents and rental comps

The median asking rent across Boise, ID sits at $1,772/month, pulled from active rental listings in 10 zip codes. That's up 9.0% from a year ago.

Rents aren't uniform across the city. ZIP 83716 tops the list at $2,750/month. ZIP 83705 comes in lowest at $1,495/month. That's a 84% spread between the top and bottom zip codes, which is wide. City-wide averages won't tell you much about a specific property here.

A 2-bedroom rents for $1,498/month at the median. 1-bedrooms run about $1,423. 3-bedrooms come in around $2,238.

Average days on market sits at 30 days. Pace is steady.

Rent-to-price math is tight in Boise. The gross figure sits at about 3.9% ($1,772/month against $542,000 median price). Most investors here are betting on appreciation, not monthly cash flow.

HUD's Fair Market Rent for a 2-bedroom in the Boise metro is $1,660/month. Asking rents track close to the federal benchmark, within 7%.

Boise had one of the most dramatic rent increases of any US city from 2020 to 2022. Remote workers from California, Oregon, and Washington moved in and drove prices up fast. The market has normalized since, but Boise today is structurally different than it was five years ago. No longer a cheap hidden gem. The North End and Downtown are premium. West Boise, Meridian, and Nampa are cheaper. Idaho stays landlord-friendly with minimal regulation. The risk is that Boise's economy is less diversified than larger metros. It runs on continued migration. If the inflow slows, the market could soften more than places with deeper employment bases. People who've moved here generally stay though, so the demand floor is higher than it used to be.

These numbers are city-wide averages. If you're pricing a specific property in Boise, pull comps from the same zip code. The spread is usually bigger than people expect.