MARKET SNAPSHOT

Boise q1 2026

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AVERAGE RENT

$1,610 Q1 2026

OCCUPANCY RATE

93.7% Q1 2026

NET ABSORPTION

2,118 T4Q

ANNUAL RENT CHANGE

2.3% Q1 2026

ANNUAL OCCUPANCY CHANGE

+30 BPS

UNIT COMPLETIONS

1,397 T4Q

KEY TAKEAWAYS

Demand momentum is accelerating — Q1 2026 absorption of 516 units nearly doubled the prior quarter's 286 units, and trailing 12-month absorption of 2,118 units has outpaced 1,397 deliveries.

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The active pipeline of 1,696 units (3.8% of inventory) is rebuilding after a 60% drop in trailing completions, with 1,420 units started over the past year; Meridian's 892 units under construction represents the market's most significant near-term supply risk.

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Average effective rents reached $1,610, up 2.3% year-over-year, while stabilized occupancy of 93.7% improved 30 basis points annually.

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MARKET OUTLOOK

Boise enters mid-2026 at a constructive inflection point. The delivery wave has clearly subsided — trailing completions are down 60% from their prior-period peak — and demand has responded, with absorption outpacing...