Is Airbnb The Answer To Idaho’s Skyrocketing Housing Costs?
Idaho is expanding at an exponential level. In 2020 the state grew by 2.1%. Most of that growth resulting from Californians who moved here amidst the pandemic. And it doesn't seem like expansion will take a break any time soon. Unfortunately this has housing prices skyrocketing across the state. I actually moved here in July and and was hard pressed to find something suitable for my family under $1800/mo. Factor in utilities, and housing inches its way to over $2K a month.
If I hadn't signed a 3 year lease, I'd find myself in a situation many residents are facing as they near the ends of their leases; any rent increase, especially still being in a pandemic, can break someone's financial situation. Is it time to consider month to month living in an Airbnb? Sounds crazy, but modern problems call for modern solutions.
For starters, credit checks and rental application fees are not required to make a reservation on Airbnb. As long as you have the money, the place is yours. You're not spending any money without a guarantee you'll have the space. I spent $200 in rental application fees just to be told on 2 separate occasions someone else had been granted the lease.
Utilities are included. You don't have to transfer gas, power, water, and sewage under your name and wait for technicians to hook them up. All of that is included in the price of your stay. The houses also come fully furnished. Depending on your storage situation, however, that might be a con.
You can also read reviews right on the page about the place and the host. Because it's regulated by Airbnb, hosts can't remove poor reviews. You're getting all the information from previous guests to better help make your decision. There also tend to be additional discounts depending on how long your booking is and when you book it. Right now you can book an entire condominium in Rexburg, Idaho for about $1300 for the month, with an additional discount for booking now.
Obviously this is a short term solution. Bouncing around to a different Airbnb every month isn't ideal if you're looking to stay in Idaho for longer than 6 months. But it's definitely a viable alternative while you're in between living spaces and searching for a more permanent residence. In fact, that was the initial plan for my family when we moved here. Properties were being scooped up left and right and that was our backup plan. Something to think about.