– Nampa, ID –
10 YR IRR:
(includes vacancy, expenses and property management fees)
Rents in Boise valley 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.
The submarket, home to the downtown retail district, contains many attractions, such as Boise zoo, 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
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. 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.
The metropolitan area itself has a population around 227,000 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%
Laguna Farms Fourplexes are presented by:
Sherida Zenger, RE/MAX Advisors
Chase Leavitt, RE/MAX Advisors
in partnership with FIG – Fourplex Investment Group.