MARKET SNAPSHOT

Boise q2 2025

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AVERAGE RENT

$1,616 Q2 2025

OCCUPANCY RATE

93.6% Q2 2025

NET ABSORPTION

1,501 H1 2025

ANNUAL RENT CHANGE

1.9% H1 2025

ANNUAL OCCUPANCY CHANGE

+30 BPS Q2 2025

COMPLETIONS

1,192 H1 2025

KEY TAKEAWAYS

Boise’s renter demand continued to strengthen in Q2 2025, with 769 units absorbed during the quarter—pushing year-to-date absorption to 1,501 units, well ahead of the 1,192 units delivered over the same period and signaling a clear rebound in leasing momentum.

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Boise’s multifamily pipeline has contracted sharply, with just 913 units underway as of July 2025—less than half of last year’s total. Development activity is concentrated in just two submarkets: Meridian and Nampa.

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Boise’s multifamily occupancy rate rose to 93.6% in Q2 2025, up 30 basis points year-over-year, reflecting steady renter demand. Ada County (96.7%) and South Boise (95.4%) led the metro, with demand consistently outpacing new supply over the past year.

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MARKET OUTLOOK

Boise’s multifamily market is showing signs of stabilization heading into the second half of 2025, supported by improving absorption, moderating supply, and a return to positive rent growth...