Researchers Say Boise is The 2nd LEAST Affordable Place to Live in North America
Just a few years ago, Boise, Idaho was ranked as one of the most affordable places to live in the United States. Word of this seemingly spread quickly - like almost too quickly. More people than ever began to move to Boise for all of its charm, appeal, and affordability. So many people have moved here in recent years that now it's to the point where Boise is one of the most LEAST affordable places to live in all of North America.
A survey released this month by Oxford Economics analyzed North America’s most expensive cities and determined that houses in Boise are the second "most out of reach." According to a Housing Affordability Indices report, “affordability deteriorated in nearly all U.S. and Canadian metros” in the second quarter of 2021. Among 30 North American metropolitan areas, Oxford determined that Vancouver; Boise, Idaho; Toronto; Portland, Ore.; Hamilton, Ont.; Las Vegas; San Jose; and Los Angeles are the least affordable metros to live in. The Chicago metro ranked as the most affordable in this study.
It's an ironic concept; people move to Boise because it's so affordable. However, the influx of out-of-staters causes home prices to skyrocket ultimately making the city not affordable at all! Throughout 2021, Boise has been dubbed as the second-fastest housing market, the most overpriced housing market, and now the second least affordable housing market!
Will all of this press slow the incomers down from moving to Boise? Well, data does show that the housing market is actually slowing and could come crashing down soon... It's about time!