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Boise’s average rent increased 5.5% in the past year, still lower than national average

Not even a pandemic can slow down skyrocketing rent prices in Boise.

Rent rates in the City of Trees increased 1.2% since last month, according to a study by apartmentlist.com. That’s a 5.5% increase over the same time in 2019 and is the eighth straight month for average increases since rents dipped slightly in January. 

[Local home prices are rising fast. Median income is not]

Boise’s increase is slightly higher than the 5.1% rent growth rate for the rest of Idaho, but it vastly outpaces the -1.4% drop in average rental prices apartmentlist.com found for the United States as a whole. 

BoiseIdahoUS
Rent rate change from 2019+5.5%+5.1%-1.4%

Boise still has more affordable rents than most major U.S. cities. Rates in some of those cities dipped slightly, while rents in the Treasure Valley continue to shoot up. This analysis lists Boise’s median rent for a two-bedroom apartment at $1,020 per month, which is still less than Phoenix’s $1,140, Dallas’ $1,180, and Atlanta’s $1,190. 

Apartmentlist.com lists the nation’s median rent price for a two-bedroom apartment at $1,106, which is higher than Boise’s. 

Margaret Carmel - BoiseDev reporter
Margaret Carmel is a BoiseDev reporter focused on the City of Boise, housing, homelessness and growth. Contact her at margaret@boisedev.com or by phone at (757)705-8066.

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