Why Invest in Idaho Real Estate?
The real estate market in Idaho is getting bigger by the day, with people moving in from other states and new units being built year round. Since there is a large influx of both younger professionals and seniors, there is a demand for starter homes and forever homes alike.
The Gem State is, as its name suggests, famous for its gemstones, but it is loved for its wildlife and breathtaking scenery. There are plenty of outdoor activities available throughout the state, making it a desirable destination for tourists and sports enthusiasts, who are always in need of accommodation. Tourism, business and technology are among the strongest sectors in Idaho, which ensures a consistently high demand from both renters and homebuyers. Overall, Idaho offers plenty of gems for investors when it comes to real estate investment as well.
Investment Considerations for Idaho Real Estate
- Growing job market– During 2017 alone, Idaho-based companies created 14,700 new job openings. This was a 2.1% increase compared to the year before. It was mostly due to industries, such as durable goods manufacturing, getting stronger and needing more manpower. Idaho has already become the state with the largest employment gain in the US, and it seems that this trend will continue, making Idaho an excellent place to invest in real estate.
- Technology-focused economy – A large percentage of people who are moving to Idaho are young entrepreneurs and technology sector employees. A major moving force behind these developments was the establishment of Trailhead, a hub where those with ideas could get mentorship. This resulted in Idaho becoming the state with the hhighest number of business startups in the whole of US. Since this means an influx of people with disposable income, it makes the area favorable for real estate investment.
- Influx of baby boomers–The is a high number of people who have moved to Idaho since 2010 who aren’t young professionals, but seniors in search of the ideal spot for their retirement. They make up a staggering 52% of all newcomers. This, of course, means a higher demand for housing units, which is good news for Idaho real estate investors. A rise in demand will almost certainly drive the prices up, and real estate investors in Idaho will find properties appreciating over time which will increase their profitability.
- Popularity as a living destination– Thanks to its economy getting stronger by the day, the standard of living in Idaho has reached new heights. During 2016, the Gem State has received almost 19,000 new inhabitants. What that means for real estate investors is, of course, a stable market with plenty of opportunities to earn rental income.
What are the Best Markets to Invest in Idaho?
Thanks to lower prices and greater opportunities than in other American technology capitals, Boise is getting increasingly popular among young professionals and startup owners. As a result, its real estate market is thriving and capable of providing plenty of investment opportunities. Treasure Valley makes for another promising market, mostly due to a great influx of retirees in search of homes and retirement options. All in all, the projections for Idaho real estate are overwhelmingly positive, which should serve as encouragement to investors..
Getting Started in Real Estate Investing? INVESTimate® Can Help
INVESTimate® is the leader in residential real estate investment. With the use of big data and machine learning, we analyze information on millions of single family homes in Idaho; and across the United States and calculate home values RENTestimate for every property in Idaho. If you’re looking for the best investment properties across the country, visit our comprehensive investment site.