In his piece, Boise Real Estate Market Overview 2022, Than Merrill, co-founder of FortuneBuilders, CT Homes, and Equity Street Capital, explained Boise's almost 5% housing market spike makes it one of the most desirable markets in the nation.
Climbing faster than the majority of America's cities over the last decade, Boise real estate grew as much as 55% within the last 10 years. Real estate analysts estimate Treasure Valley home prices will rise 13.7% by 2023. Home prices are expected to increase the while supply and demand constraints maintain a stronghold throughout the Valley. But Merrill noted those days are numbered. Rising interest rates will inevitably reverse the trend.
From its lowest point of the Great Recession to today, the median home value in Boise has increased 255.7%. Riding a wave of increasing sentiment, improving economic conditions, and a lack of inventory, the median home value in Boise is now $533,538.
But enough technical talk and market jargon! The Idaho city that staked its claim on this list comes as no surprise to locals. Filled with fortune, stunning Western mansions, and retirement funds that make us workforce grunts swoon, who wouldn't want to call this wealthy hamlet home?
Unless you're on a hunt in the wilds of the Gem State, the buck doesn't stop there. Enjoy yourself a leisurely scroll through our gallery of the richest cities in every state. From east to west and everything in between, you might be surprised to see which cities didn't make the cut! Did yours?