
Boise · Ada County
Investor depth across every asset class.
253,550 residents. A deep SFH rental and flip pipeline with a North End premium we underwrite week in and week out.
Population & Growth
Population · 2025 est.
253,550
Largest city in Idaho · COMPASS 2025
Ada County · 2025 est.
572,020
COMPASS 2025
Boise MSA · 2025
856,880
Ada + Canyon + Boise County · COMPASS
Ada County · 2050 projection
715,820
COMPASS
Unemployment · Jan 2026
3.4%
vs. 4.3% national · FRED/BLS
Median sale price · March 2026
$495,000
-1.0% YoY · 26 DOM · Redfin
Boise anchors the Treasure Valley. The North End, the Bench, and the Foothills have distinct buyer personas and distinct comp sets. Our deal flow reflects that. We underwrite Bench flips on a weekly cadence and see North End premiums hold even through seasonal softness.
Flips
Bench entry-level
$380K–$445K
Flip ARV range
North End premium
$780K–$1.1M+
Flip ARV range
Median $/sqft
$310
2025
Bench product is where most new investors start. Close enough to downtown, priced where rehab budgets still pencil, and with comp sets that move. North End carries a design-renovation premium; rehab-scope creeps and over-improvement are the two ways to lose money here.
SFH Rentals
3BR SFH average
$2,218
Q2 2025 · monthly
SFH vacancy rate
3.06%
Q2 2025
Boise's SFH rental market has tight vacancy with rent growth stabilizing after the 2022–23 surge. Buy boxes in our investor network: $1,800–$2,500/mo SFH with a cap of 5.2–6.0% post-rehab.
Multifamily
2–4 unit cap rate
5.5–6.5%
Ada County · stabilized
5–20 unit cap rate
5.0–6.0%
B/C class
Ada County multifamily has tightened cap rates in the last 18 months. The 2-to-20-unit B/C-class window still clears. Boise's zoning and density changes (ADU rules, lot-split reforms) are materially expanding the buildable envelope on many infill lots.
Infill & Development
Units approved
1,962
Boise · 2025
Boise approved 1,962 units in 2025, with most concentrated in corridor-adjacent parcels. The opportunity for our investor network: pre-entitlement infill lots where the entitlement path is under 12 months.
Land & Development
Most of Boise's annexation activity in the last 24 months is north and east, adjacent to existing city limits. We've represented acquisitions in the pre-annexation state where the buyer's cost basis was 60–70% of a comparable already-annexed parcel.
Lot Splits, ADUs & Duplexes
Ordinance reconciliation required
Boise's displayed ADU section must be reconciled with Ordinance 11-26, which was adopted after the code's published cutoff. Exact standards stay unpublished until the certified ordinance, publication, and effective date are retained.
Boise publishes a 2026 applicant packet for its pre-approved ADU program. A pre-approved design may reduce design work, but it does not establish parcel eligibility, utility capacity, site approval, permit timing, or total project cost.
Use the Renew Atlas ADU rules and ordinance trackers for the current source record and unresolved publication blockers.
Annexation
Boise's annexation activity concentrates north and east. We've represented acquisitions in the pre-annexation state where the buyer's cost basis was 60–70% of a comparable already-annexed parcel.
Data
Boise in context. Ada County, ten years.
Population series 2015 through 2025 from the corrected COMPASS 2025 historic city-limit file. Price figures from Redfin and Zillow as of March 2026.
Renew take
Boise's curve flattened in 2023–24 while Meridian kept absorbing the in-migration. New household demand is landing in Meridian; Boise's flat line reflects supply constraint, not demand softening. Bench rents and North End premium have held. Don't read flat Boise growth as a soft Boise market.
Q3 building permits: if Meridian intake drops below 1,800 units, 2027 absorption math weakens and pricing pressure flips.
Source: COMPASS corrected 2025 historic city-limit population series.
Renew take
Eagle's $789K median is real-money owner-occupant pricing. Investor cap rates don't pencil at that basis. Boise + Meridian both sit in the $470–540K band that produces the bulk of our flip and SFH-rental acquisitions. Star and Kuna look attractive on the chart but new-build oversupply is dragging investor exits.
Days-on-market: once Eagle DOM crosses 60+, premium-tier sellers start cutting and the entry-level cohort moves laterally.
Source: Redfin and Zillow, March 2026. Point-in-time figures, not annualized.
Last updated: April 2026.
Asset classes
Six plays, one city. Underwriting-grade briefs.
Each asset class has its own brief: market snapshot, Renew take, relevant ordinance, and named risks.
Flips
Value-add single-family across the Bench and SE Boise submarkets. Entry-basis discipline is the margin in 2026. Bench entry-level ARV $380K–$445K; North End premium $780K–$1.1M+.
Read brief →Raw + entitled landLand
Land across the foothills front, Bench infill parcels, and ag-to-residential edges. Water rights and entitlement timing define the deal. Pre-annexation basis 60–70% of comparable.
Read brief →Small-format new buildInfill Development
Small-format new build on large post-war lots. ZOA25-000013 (2026) permits 2 ADUs per lot up to 900 sq ft. Idaho SB 1352 expands compact-lot density at 12 units per acre on 4+ acre tracts effective July 2026.
Read brief →2–20+ unitMultifamily
2-to-20+ unit B/C class across the BSU Area and mid-tier submarkets. Q1 2026: 5.4% stabilized vacancy, 885 units YTD absorption, overall cap rates approximately 5.6%.
Read brief →Buy-and-hold single-familySFH Rentals
3BR SFH averages $2,218/mo (Q2 2025). Vacancy 3.06%. Blue-chip on the Bench. Entry-level basis on SE Boise. Purpose-built rental demand concentrated within 1 mile of BSU.
Read brief →Destination STRShort-Term Rentals
Secondary segment. Handled on a per-parcel underwrite basis, not as a primary Renew focus. Boise has no unified STR permit; legality and operating economics vary by zoning district and HOA covenants.
Read brief →See deals matching your criteria in Boise.
Document your buy-box once. We call when something fits: flips, SFH rentals, infill lots, or multifamily.
Neighborhoods
7 Boise neighborhoods. Each with its own read.
Primary and secondary investment neighborhoods with stat cards, Renew takes, risks, and ordinance-level code references.
North End
On the National Register of Historic Places. Highest ARVs in the Valley. Historic overlay restricts flip work and new construction. Walkable core drives short-term rental premium.
Neighborhood brief →Historic · Warm Springs corridorEast End
Local historic district established 2004. Craftsman bungalow stock. Warm Springs Avenue median price exceeds $1,188,000. Geothermal water district as neighborhood amenity.
Neighborhood brief →Primary flip submarketThe Bench
Highest flip volume in Boise. Post-war stock 1940s through 1970s. Large lots with ADU potential under ZOA25-000013. Absentee-ownership pattern supports direct-owner sourcing.
Neighborhood brief →Moderate activityWest Boise
Mixed residential. Fewer historic constraints than the North End or East End. Moderate flip and rental activity; SB 1352 starter-home rules may open density at the west edge.
Neighborhood brief →Foothills premiumHill Road
Foothills adjacency. Premium land and new-construction era. Hillside overlay may apply to some parcels. Scarce buildable inventory drives land prices.
Neighborhood brief →University rental anchorBSU Area
Boise State University anchors rental demand. Near-zero vacancy corridors within 1 mile of campus. 3BR SFH is the primary demand driver. Event-based STR demand from BSU games and move-in weekends.
Neighborhood brief →Entry-level flip basisSE Boise
Entry-level flip basis. ARVs below North End. Growing area with remaining land availability on edges. Strong infill fit for the primary investor audience.
Neighborhood brief →Research
Briefs and methodology. Timestamped, sourced.
Short-form research on market movement, ordinance updates, and neighborhood dynamics.
Boise ZOA25-000013 ADU Ordinance Amendment Walkthrough
Boise's March 2026 ADU ordinance amendment (ZOA25-000013) eliminates owner-occupancy requirements, expands ADU eligibility to all residential zones, and provides eight pre-approved plans—removing the
The Bench Flip Economics 2026
The Bench delivers strong flip economics in Boise with entry at $380K–$445K, 21-day median turnover, and ARV compression to $520K–$600K driven by family demand and Greenbelt access, but rising flipper
Boise Multifamily Cap Rate Outlook: Q1 2026
Boise multifamily cap rates compressed to approximately 5.6% in Q1 2026 as stabilized vacancy recovered to 5.4% from 5.6% peak, signaling investor confidence in sustained rental demand despite elevate
Research methodology and data sources
Renew Group's Boise investment research platform operates on a five-tier source hierarchy (GOVERNMENT → MLS → BROKER → SURVEY → OPERATOR) with explicit confidence labels on every metric, monthly to qu
Related markets
Adjacent Treasure Valley cities. Same investor lens.
Most investors compare two or three of these cities side-by-side. Each hub carries the same depth of population, price, asset-class, and ordinance data.
Ada County
Meridian
Fastest growing
147,340 residents, +61.3% over a decade. 848 apartments and 35 townhomes under development near The Village. Old Town Opportunity Zone in play.
See MeridianAda County
Garden City
Urban infill
An independent Ada County municipality entirely enclosed within Boise. Its own municipal code, Greenbelt frontage, and the densest urban-infill opportunity in the Valley.
See Garden CityAda County
Eagle
Premium market
The Treasure Valley's premium investor market. Scarce product, executive-tier rentals, and large-lot land plays sourced through our investor network.
See EagleLooking for a different play?
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