5+ Reasons Why We Invest in BoiseAug 21, 2019
For those who enjoyed one of our past posts 'Top 10 Stats for Each FIG Market', we wanted to continue to satisfy your thirst for the numbers behind why and where we are investing.
Last time we focused on Texas, Utah, and Idaho. This time we'll be taking a further look at the Boise valley, and exploring reasons why we've been investing in the treasure valley multifamily market.
1. Renters Want to Stay
For those who've been there, you'll understand the appeal. In such rapidly growing metro areas around the country (19,000 people/year move to Boise, according to U.S. Census Bureau) it's less common to find a place that feels like home—with an atmosphere convincing you to stay long-term.
In Boise, you'll find a perfect balance between rural and urban. U.S. News recently ranked the metro as one of the best places to live in the country. There are plenty of outdooring opportunities nearby, a "trendy cuisine scene", and plenty of new construction and museums, etc. Here are Trip Advisors' "Top 10 Outdoor Activities in Boise"
2. Business is Booming
The national average for unemployment sits close to 4.5%, but where's Boise? The Boise/Nampa metro boasts an impressive 29% unemployment rate and is one of the nation's fastest-growing job markets.
In the city's tech center you'll find companies like Micron and HP. And while tech is growing, it still remains a giant in terms of healthcare and hospitality. Business Insider has ranked Boise as the 3rd most fruitful location to find a job.
3. Safety = Less Delinquencies
Crime is closely associated with vacancies and number of delinquencies. Boise investors can sleep tight knowing that MSN ranked the city as the 8th Safest City in the World.
We've seen posts from both USA Today and 24/7 Wall Street saying that Meridian is the countries best city to live in. We're expecting a migration from surrounding cities as Meridian continues to develop around 10-mile, creating a new "center of the Boise Metro".
Nampa is attractive for a variety of reasons. Reasons that we've gone deep into on our Boise market report. Nampa is an attractive location for a lot of movers. One reason is due to the 22% decrease in average utility costs compared to other cities. Another is a 5% decrease in the cost of living compared to the national average. A lot of prime renters are coming to Nampa seeking longer-term rental units.