Why Real Estate Investors Have Their Eyes Fixed on Nampa, Idaho... 🔭🏡May 06, 2019
Nampa, an Idahoan city teeming with potential as it takes pride in local food processing, agribusiness, manufacturing, and technology—and where recreation and healthcare industries are beginning to take off. Here's a glimpse of what we're talking about:
A 60 second look at Nampa:
But Where is Nampa?
Nampa is located about 20 miles west of Boise along interstate 84. It's the principal city of the Boise-Nampa Metro area (Idaho's largest metropolitan area), and is centrally and ideally located to reach all the western U.S. markets. The entire area has proven to be a great place for the Fourplex Investment Group, as we now have properties in both Nampa and Meridian.
A Sneak Peak at the Nampa Market
Median Home Price: $291,000 (17% above the national median)
Cost of Living: 7% above national average
Why the Metro Area Made the Forbes "Best Places to Retire in 2019"
- Robust economy.
- Low serious crime rate.
- Highly bikeable.
- Good weather with low humidity and relatively mild winters, and good air quality.
- Good ratio of physicians per capita.
- No state taxation of Social Security benefits and no estate/inheritance tax.
- High rate of volunteerism.
- High rank on Milken Institute best cities for aging list.
Investor Outlook for Nampa and the Boise Metro:
If you've read our past article, You knew Boise was growing, but did you know how fast?, you know that Boise is a prime location for many reasons. The metropolitan area itself has a population around 674,675 people, and boasts the following rental stats:
- Boise ranks 5th in Nation for Rising Rents
- Average Rent Increase of 14.4% for One-Bedroom Apartments over the Last Year
- Average rent across all types of apartments is $983 per month – up from the $879. (11.8% increase since last year)
- Between 95% and 99.5% of all units have people living in them in every area – with the lowest occupancy in Southeast Boise at 95.5%
Rents in Boise have had a strong cycle of growth, culminating this year in what is poised to be the best year of rent gains yet. This trend has been bolstered by a healthy and expanding economy in Boise and Idaho as a whole, as evidenced by some of the strongest employment growth in the country. Roughly 41% of the population rents rather than owns.
In Nampa, households earn a median yearly income of 45,404—while average household expenditures average 46,658—keeping many individuals and families in multifamily rental units for longer periods of time.
Snag a Nampa, ID Market Report!
A few things the report includes: [Download a Nampa Market Report]
- Local Schools, Amenities
- Leading Employers, Industry, and Number of Employees
- Break down of our Laguna Farms fourplexes
- Local microeconomics
- Location information and map
- Community Info