Market Analysis
Boise Rental Market
Rental investment market data and analysis · Updated November 2026
Median Home Price
$531,719
Average Monthly Rent
$1,892
Estimated Cap Rate
4.3%
Rent-to-Price Ratio
0.4%
Below 1% Rule
Rent ÷ price by zip code
0 of 4 clear the 1% rule · November 2026
| Zip | Median price | Median rent | Rent ÷ price |
|---|---|---|---|
| 83709 | $512,537 | $2,265 | 0.44% |
| 83704 | $435,000 | $1,589 | 0.37% |
| 83706 | $550,900 | $1,995 | 0.36% |
| 83702 | $829,400 | $1,719 | 0.21% |
Context · FRED home price index
Market Trends
Boise metro area — % change since 2018
Home Prices
+112.8%
Rent Index
+36.2%
Average Rent by Bedroom
| Bedrooms | Avg Rent |
|---|---|
| Apartment | $1,541/mo |
| Condo | $1,636/mo |
| Townhouse | $2,149/mo |
| Multi-Family | $2,200/mo |
| Single Family | $2,286/mo |
Sample Investment Analysis
Based on median price + average rent, 20% down, 6.8% rate, 30yr
Purchase Price$531,719
Down Payment (20%)$106,344
Monthly P&I$2,773
Monthly Rent$1,892
Est. NOI$13,622/yr
Est. Cash Flow-$1,638/mo
Cash on Cash-16.8%
The Boise market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.
What Investors Should Know About Boise
- 1Compressed cap rates below 5% — focus on appreciation or value-add deals
- 21% Rule fails at median prices — need rent of $5,317/mo to pass
- 3Below-average rents keep entry costs low for new investors
- 4Premium market — higher capital requirements but potential for appreciation
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