Like Finding Gold in Treasure Valley, Boise Housing Market Booming
People have different reasons for wanting to buy a home in a certain city or town, or even as specific as a community or a neighborhood.
Maybe they want to live close to where they work, so they can have a short commute. Maybe they want to live nearby family and friends. Maybe it has to do with schools for their kids or for those without children, maybe the attraction of entertainment and lifestyle plays a part.
Or maybe folks just want to find somewhere affordable.
Whatever the reason, finding the right place to live is important for a would-be homeowner, but it’s also not the easiest task.
Home prices and mortgage rates are expected to rise this year and the available housing supply within a buyer’s parameters may shrink.
But some markets are better than others. Realtor.com recently released their hottest markets list for 2019.
Boise came in at No. 8 on the Top 10 list, giving credence to Idaho being known as the Gem State, because it is a hidden gem among housing markets in the U.S.
Economists for the website continuously track home prices, availability and how quickly homes will sell. To make this list, they combine that data with markets that are hotbeds for job growth, are experiencing an influx of new construction and are flush with millennials – the generation making up a majority of buyers in the U.S.
Tucked between mountains in the Treasure Valley, Boise has a little bit of everything to offer. It has a vibrant food scene and close proximity to the mountains for those who love the outdoors. Recreation abounds and its four-season climate can have you both fishing and skiing in the same calendar year without leaving home.
Already flush with an existing wine scene, the resurgence of craft brewing has resulted in an influx of local breweries and cider houses in the city.
There is a Basque Block in Boise, which has the largest population of Basque people per capita outside of Spain. Not only is there a Basque History Museum, but the local market serves up paella daily as well as a variety of pintxos.
Boise is also rated as one of the most bike-friendly cities in the U.S., and has a variety of bike paths, including a scenic ride along the Boise River.
And, it is a haven for festivals. Whether it’s the Treefort Music Festival in the Spring, the Boise X Games in the Summer, or the Spirit of Boise Balloon Fest in the Fall, there’s always something happening.
Outside of the quality of life, Boise is teeming with employment opportunities and its historic homes on tree-lined streets appeal to established families as well as millennials and young couples who are just starting out.
The median home value in Boise is $258,303, which is slightly below the national average, making it an affordable place to live as well.
Rounding out the Top 10 list of housing markets in 2019 are Lakeland, Fla. (No. 1) Grand Rapids, Mich. (No.2), El Paso, Texas (No. 3), Chatanooga, Tenn. (No. 4), Phoenix, Ariz. (No. 5), Bridgeport, Conn. (No. 6), Las Vegas, Nev. (No. 7), Miami, Fla. (No. 9) and Boston, Mass. (No. 10).