Rental property in Boise, ID
2026 Market Data & Investment Analysis
Gross Yield
5.4%
Annual rent / price
Median Home Price
$390,000
As of 2026-Q1
Median Monthly Rent
$1,750
Per month
Population
235,684
+2.2% / yr (5y avg)
Estimates based on median market data. Actual returns depend on your specific property. Source: Zillow Research / U.S. Census Bureau, 2026-Q1.
Calculate your rental yield in Boise
Pre-filled with Boise's median values. Adjust to match your specific property.
Property Details
Total acquisition cost before taxes
HOA, insurance, property management
% of time the property is empty
% of purchase price (e.g. 2% = 2)
Rule of thumb: 1% of purchase price/yr
Results
Gross Rental Yield
5.38%
Net Rental Yield
3.50%
Cap Rate
3.50%
Monthly Cash Flow
$1,137.50
Annual Cash Flow
$13,650.00
Boise rental market at a glance
Median Home Price — 5-Year Trend
Median Monthly Rent — 5-Year Trend
Boise presents a compelling rental investment opportunity with a 5.4% gross yield that significantly outpaces national averages, while maintaining a healthy 4.1% vacancy rate that suggests balanced supply-demand dynamics. The market has benefited substantially from tech industry migration, particularly since 2020, with major employers like Micron Technology, HP, and emerging startup ecosystems driving population influx. The 2.2% annual growth rate, while moderate compared to Sun Belt boom towns, reflects sustained demand from both remote workers relocating from coastal tech hubs and young professionals attracted to the city's affordability relative to San Francisco, Seattle, and Portland.
The rental demand fundamentals are strengthened by Boise State University's enrollment (approximately 23,000 students) and the city's strategic positioning as a secondary market for tech talent seeking lower cost-of-living alternatives. The sub-$400,000 median home price creates natural segmentation for landlords—the spread between purchase price and rental income is significantly tighter than in established tech hubs, making cash-on-cash returns more achievable for average investors. Infrastructure development, including the Boise Foothills Scenic Byway improvements and continued downtown revitalization, supports property appreciation alongside rental income generation.
However, the investment thesis requires careful consideration of competitive dynamics. Boise's attractiveness has sparked substantial new construction and investor interest, potentially moderating the supply constraints that currently support the 5.4% yield. The city's altitude (2,730 feet) and winters, while milder than northern climates, may limit appeal to some relocating professionals accustomed to year-round sunshine markets. Long-term appreciation potential depends heavily on whether Boise transitions from a secondary tech destination to a primary hub—a dynamic that remains uncertain as companies establish hybrid work policies and more cities compete for remote worker investment.
What type of investment market is Boise?
Boise features strong population growth that may drive property values higher over time. Current rental yields are modest, so returns are more dependent on price appreciation than immediate rental income.
✓ Strengths
- •5.4% gross rental yield significantly above national average of 3-4%, providing superior income generation relative to median home price
- •Tech industry concentration from Micron Technology HQ and growing startup ecosystem creates stable, higher-income tenant pool with strong employment stability
- •Modest 4.1% vacancy rate indicates healthy rental demand without overheating market conditions, supporting consistent cash flow
- •Boise State University presence provides consistent student housing demand and younger demographic appeal for multi-unit investment strategies
! Risks
- •Accelerating investor competition and new residential construction in response to Boise's popularity may compress the current 5.4% yield within 3-5 years as supply catches demand
- •Tech sector volatility—Micron Technology's cyclical earnings and potential remote work normalization could reduce in-migration that has driven recent growth rates
- •Winter weather patterns and high elevation limit geographic appeal compared to southern relocation destinations, potentially constraining tenant pool expansion and rent growth
- •Market maturation risk: as median prices approach $400,000+, the affordability advantage versus other tech markets diminishes, potentially reducing investor interest and population growth
Key Metrics
How does Boise compare to nearby cities?
Boise vs Salt Lake City: 0.3 percentage point difference in gross yield.
| City | Median Price | Median Rent | Gross Yield | Pop. Growth |
|---|---|---|---|---|
| Salt Lake City, UT | $450,000 | $1,900 | 5.1% | +1.1% |
| Portland, OR | $480,000 | $2,000 | 5% | +0.1% |
| Seattle, WA | $700,000 | $2,400 | 4.1% | +0.8% |
| Denver, CO | $540,000 | $1,900 | 4.2% | +0.7% |
| Las Vegas, NV | $380,000 | $1,750 | 5.5% | +1.4% |
Investor Takeaway
Boise suits value-focused buy-and-hold investors seeking immediate cash flow over speculation, with the 5.4% yield providing strong income even if appreciation moderates. The optimal strategy involves acquiring properties within 3-5 miles of downtown or Boise State University to capture tech worker and student demographics, while prioritizing 2-3 bedroom single-family homes or small multifamily units that serve both cohorts. Critical action item: move quickly within the next 12-18 months, as the combination of low vacancy, tight yield spreads, and increasing competition suggests this window of superior yields relative to purchase price is narrowing—lock in current rates before margin compression accelerates.
Common questions about investing in Boise
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