– Boise, ID (Meridian) –
10 YR IRR:
(includes vacancy, expenses and property management fees)
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.
Rents in Northeast Boise are among the metro's highest, reflecting its status as one of the most desirable submarkets in the metro. The submarket, home to the downtown retail district, contains many attractions, such as Zoo Boise, CenturyLink Arena, and the Boise Art Museum, as well as the Boise VA Medical Center. Roughly 41% of the population rents rather than owns, the highest percentage in the metro and possibly the result of home prices that average $230,000—nearly 35% more than those in the rest of the metro.
For more information contact:
Sherida Zenger 801.787.6665
Chase Leavitt 435.632.7028
Rents are also high in the Meridian Submarket. Recent construction and the resulting saturation of high-tier communities, which comprise more than 35% of inventory here, have buoyed prices. Meridian presents an attractive renter base, because incomes, at nearly $68,000, exceed the metro average by more than 36%, bolstered by the CORE business corridor in the western portion of the submarket. Higher salaries are accompanied by a highly educated population—23% of the population has a bachelor’s degree or above, eclipsing the metro average of 13%.
Updated: Jun 13, 2017 *Courtesy of CoStar Research with data graphs shown below in images.
Entrata Farms Fourplexes are presented by:
Sherida Zenger, RE/MAX Advisors
Chase Leavitt, RE/MAX Equity
in partnership with FIG – Fourplex Investment Group & RE/MAX Equity.