MARKET SNAPSHOT

Boise q3 2025

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AVERAGE RENT

$1,598 Q3 2025

OCCUPANCY RATE

94.5% Q3 2025

NET ABSORPTION

1,979 YTD Q3 2025

ANNUAL RENT CHANGE

1.3% Q3 2025

ANNUAL OCCUPANCY CHANGE

+160 BPS Q3 2025

UNIT COMPLETIONS

1,025 YTD Q3 2025

KEY TAKEAWAYS

Demand is outrunning new supply, and leasing strength is broad-based across the metro, setting up a gradually tighter market as recent projects stabilize.

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Occupancy is trending higher even as Boise already has one of the highest rates in the Mountain West.

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Rent growth remains steady, and the market is poised for further gains in the coming quarters given improving supply-demand dynamics, with value and mid-market segments leading.

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MARKET OUTLOOK

The Boise market is positioned for steady normalization as we enter 2026. Near-term deliveries are limited, and the active pipeline sits near 1,000 units, or 2.3% of inventory, one of the lowest shares in a decade...