Best places to buy rental properties in Idaho

January 18, 2022
● Written by
Teddy

Idaho

Investing in Idaho

There are many reasons to invest in rental properties in Idaho. The state has a strong economy, a growing population, and a low cost of living. Idaho also has a variety of different communities to choose from, each with its own unique charm.

The Nophin team crunched the numbers and found the five best places to invest in Idaho rental properties.

Statewide vacancy rates

ID Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Boise, ID

Boise, Idaho is often considered as one of the best places for millenials to live in. Located next to the Boise River, it's one of the fastest growing cities in the US.

  • Population: 386,541
  • Median household income: $67,262
  • Median 1-bedroom monthly rent: $1,495
  • Median listing home price: $569,900

Nampa, ID

Nampa is located near Boise and is a railroad and agricultural town. With an excellent education system, Nampa can make for a great home for tenants.

  • Population: 100,200
  • Median household income: $53,205
  • Median 1-bedroom monthly rent: $1,225
  • Median listing home price: $485,000

Idaho Falls, ID

Idaho Falls, sometimes called the "Gateway to the West", is home to a human-made waterfall created for hydroelectricity. The city is well known for its outdoor recreation.

  • Population: 64,818
  • Median household income: $56,590
  • Median 1-bedroom monthly rent: $798
  • Median listing home price: $435,000

Coeur d'Alene, ID

Coeur d'Alene is a beautiful resort town in northern Idaho and is known for its scenic beauty. The city is named after the Coeur d'Alene Native American people.

  • Population: 54,628
  • Median household income: $54,763
  • Median 1-bedroom monthly rent: $1,750
  • Median listing home price: $599,900

Lewiston, ID

Lewiston is the first capital of Idaho and the closest city near Hells Canyon, the deepest river gorge in the US.

  • Population: 34,203
  • Median household income: $54,912
  • Median 1-bedroom monthly rent: $725
  • Median listing home price: $371,500

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Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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