What Are the Best Neighborhoods in Idaho for Rental Properties?
Some top neighborhoods in Idaho for rental properties include Downtown Boise, Hyde Park in Boise, Downtown Coeur d’Alene, Downtown Idaho Falls, and Historic South Boise. These areas have high demand from young professionals, families, and outdoor enthusiasts looking to rent. The neighborhoods are walkable with good access to jobs, dining, and recreation.
What Are the Average Rental Prices in the Best Neighborhoods for Rental Properties in Idaho?
Average rental prices in Idaho’s most desirable neighborhoods range from around $800 for a studio to $1,500 for a 2-bedroom apartment. In Downtown Boise, average rent is about $1,100 for a 1-bedroom and $1,400 for a 2-bedroom. Hyde Park sees average monthly rents around $1,200 for a 1-bedroom and $1,500 for a 2-bedroom.
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Which Neighborhoods in Idaho Have the Highest Rental Prices?
Some of Idaho’s priciest rental neighborhoods include Downtown Boise, Eagle (near Boise), Sandpoint, and parts of Coeur d’Alene near the lake. For example, in trendy Downtown Boise average rent can reach $1,600 for a 1-bedroom and $2,200 for a 2-bedroom. Rents in Sandpoint average around $1,300 for a 1-bedroom.
What Factors Contribute to the High Rental Prices in Some Idaho Neighborhoods?
Factors driving up rents in top Idaho neighborhoods include:
– Prime location near jobs and recreation
– High demand from professionals and families
– Lack of new construction and limited inventory
– Desirable amenities like walkability and dining options
– High home prices make renting more appealing
– Affluence and job growth in tech and healthcare
How Have Rental Prices in Idaho Changed Over the Past Decade?
Idaho rents have increased significantly in the past decade. Boise rents rose over 50% from 2010-2020. Other cities saw similar growth, with Idaho Falls rents rising 45% and Coeur d’Alene rents increasing 35% over the decade. High demand and low vacancy rates are putting pressure on rental prices across Idaho.
What Is the Highest and Lowest Rental Price for a Single-Family Home in Idaho?
Single family rental prices in Idaho vary based on size, location and amenities. On the high end, large 5-6 bedroom luxury homes in Eagle can rent for $3,000-$4,000 per month. More affordable options exist as well, with small 2-3 bedroom homes renting for $1,000-$1,200 per month in some rural parts of the state. The average 3-bedroom single family rental price in Idaho is around $1,400-$1,800 per month.
Conclusion
Demand for rentals in Idaho remains strong, especially in growing cities like Boise. Investors should target walkable neighborhoods near recreation and jobs. Rental prices are likely to keep rising across the state given Idaho’s continued job and population growth.