MARKET SNAPSHOT

Boise q1 2025

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AVERAGE RENT

$1,583 Q1 2025

OCCUPANCY RATE

93.3% Q1 2025

QUARTERLY NET ABSORPTION

623 Q1 2025

ANNUAL RENT CHANGE

0.5% Q1 2025

ANNUAL OCCUPANCY CHANGE

10 BPS Q1 2025

QUARTERLY COMPLETIONS

298 Q1 2025

KEY TAKEAWAYS

Boise's construction pipeline includes 1,428 units, set to expand inventory by 3.4%. However, sharply slowing starts suggest a meaningful decline in future deliveries, with units currently underway down more than 50% from the 2023 peak.

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Net absorption totaled 2,847 units over the 12 months ending Q1 2025, supporting a healthy leasing environment. The metro’s average occupancy rate edged up 10 basis points year-over-year to 93.3%.

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Asking rents increased 0.5% year-over-year, roughly half the pace of the national average. Rent growth is expected to remain modest in the near term as the market continues to digest recently delivered supply.

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