🏡 Boise, Idaho: A Hidden Gem for Single-Family Rental Investments
Published 10 months ago • 2 min read
When it comes to finding the perfect city for single-family rental property investments, Boise, Idaho, should be at the top of your list.
Known for its natural beauty, high quality of life, and burgeoning economy, Boise offers compelling opportunities for rental investors. Let’s dive into why this city stands out and what makes it an investor’s dream.
Boise’s Growth Story
Boise has experienced remarkable growth over the past decade. According to U.S. Census data, the city’s population increased by nearly 24% between 2010 and 2024.
Between 2020 and 2024, the Boise metropolitan area experienced a 4.3% increase in nonfarm employment, rising from approximately 397,000 jobs in November 2020 to about 414,300 jobs in November 2024.
The city is a hub for technology companies, healthcare, and outdoor recreation industries. Low unemployment rates and a steady influx of skilled professionals make Boise a stable and attractive rental market.
Downtown Boise with skyline
Beyond population growth, Boise’s real estate market has also been thriving. Home values have risen consistently, yet the city remains more affordable than many West Coast metros. This affordability combined with growing demand makes Boise an excellent location for rental property investments.
What Renters in Boise Want
In Boise, single-family renters tend to prioritize the following:
Large Backyards: With its outdoor-oriented lifestyle, Boise residents love having ample outdoor space for gardening, barbecues, or simply enjoying Idaho’s beautiful scenery.
Two Living Spaces: Families often prefer homes with a second living area, whether for a playroom, home office, or additional relaxation space.
Three or More Bedrooms: Larger homes cater to Boise’s family-oriented demographic, making properties with at least three bedrooms highly desirable.
Open layout of a home with backyard connectivity
When scouting properties, ensure these features align with your investment criteria. Catering to local preferences can mean shorter vacancy periods and higher rents.
Why Boise Makes Sense for Investors
Boise offers several advantages for single-family rental investors:
Strong Rental Demand: The combination of population growth and a thriving economy creates sustained demand for rental properties.
High Rental Yields: Boise’s relatively lower home prices compared to other growing cities ensure competitive rental yields.
Favorable Regulations: Idaho is a landlord-friendly state, with laws that protect property owners’ rights.
Lifestyle Appeal: The city’s reputation for safety, education, and outdoor activities attracts long-term tenants, reducing turnover rates.
Sample Cash-on-Cash Return Calculation
Here’s an example to illustrate the potential returns:
Purchase Price: $350,000
Down Payment (30%): $105,000
Loan Amount: $245,000
Annual Rental Income: $28,800 ($2,400/month)
Annual Expenses: $9,600 (includes property management, maintenance, taxes, and insurance)
While this is a conservative example, adjusting for higher rents or lower expenses can significantly improve the return. Additionally, Boise’s strong appreciation potential offers an added upside for long-term investors.
The combination
Boise provides a winning combination of growth, affordability, and tenant demand, making it a prime location for single-family rental investments. By focusing on properties that align with local preferences—such as large backyards, multiple living spaces, and three or more bedrooms—investors can maximize both occupancy and returns.
Ready to find your next investment?
Use Rentscore to evaluate Boise properties and uncover the best opportunities. Run a rental analysis today to see how Boise fits into your investment strategy.
Disclaimer: This newsletter is for informational purposes only and does not constitute financial advice. Please consult with a professional advisor before making any investment decisions.
