Boise Rents Jump 11%, Tenants Revolt Over 60-Day Hikes
Boise Rental Market Sees Double-Digit Growth Amid Housing Shortage Boise's rental market is sending a clear message: double-digit rent growth is continuing to impact affordability as housing shortages worsen. Over the past year, average monthly rents increased by 11.8%, now sitting at $1,935 across all unit types. Individuals looking for studio apartments will encounter prices of $2,039 monthly, while one-bedroom units average $1,531. The root cause of this crisis lies in severe supply constraints within the market. Unlike Portland, where multifamily developers are increasing development activity, Boise struggles with new construction delays. Currently, under-construction inventory falls below historical averages, indicating reduced competition and ongoing shortages. The introduction of new properties is experiencing significant delays. For the first time since 2020, rental demand is expected to outstrip supply additions. Absorption rates underscore the severity of the situation, ...