Is It Cheaper To Buy Or Rent In Boise?

It's the world's worst kept secret that a lot of people are moving to Boise, Idaho. How do we know? Because traffic is thicc, housing prices are up up and away, and lines to get coffee are also...thicc.

But, if you're planning on relocating to (or within) Boise, are you better off buying or renting if you're concerned about your wallet? Let's take a look.

How much does it cost to buy a house in Boise?

You aren't going to like this part. In 2024, the average price for a home in Boise was around $480,000, with a 7% interest rate.

That would put your average mortgage payment in Boise at around $3,563 per month. That's a lot. But is it any cheaper to try and rent a place? Let us take yet another look.

How much does it cost to rent in Boise?

The overall average rent payment Boisians are currently making is around $1,750 per month. Significantly cheaper than owning a home, but you also aren't gathering any equity or value in your living space.

So, what should I do?

This is a tough one to tackle, because inflation and housing costs are currently all over the place. Are you better off purchasing now, or renting for a few years hoping things settle down?

That's a question a lot of Americans are asking themselves right now.

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Again, the above listed are all average costs. There are always exceptions.

Like this absolute monster of a house just outside Boise. If you're searching for a budget-friendly option, this ain't it, sis.