Boise’s Cost Of Rent Is Finally Going Back Down
Seeing indicators of a bit of a cooling off when it pertains to Boise and the Treasure Valley, one of the country's hottest real estate markets.
Starting with the news shared by our friends over at KTVB Channel 7, that rent prices in the Boise actually came DOWN more than 3% in the month of October. This is great news for locals looking to move to a bigger house, or a more ideal location, and also for individuals and families moving in from out of state looking to make the Treasure Valley home. This particular study only looks at rent cost, which by the way... I'm paying about $1700 per month for my humble Meridian home but the rent zestimate on Zillow seems to think they could pull in over $2,000 per month, so I guess we'll see what happens when my lease is up!
Now, what about the market for buyers? Well, that seems to be cooling off quite a bit as well. That is, at least according to Boise Realtor Kris Kohn and his most recently posted YouTube video. In this video, acorrding to Kohn, "Housing prices have been crazy recently. But are we starting to see a trend at a slower buying market? I'll show you some market data in Boise, Idaho that suggests the market is changing." Both of these indicators could be very much welcomed by those in the Treasure Valley looking to rent or buy a new home. Sellers, not so much... But the great news for sellers is... It's still a wildly hotter market than it (likely) was when they purchased their home!
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