Cap rates 4.8–5.5% · Median price $400,000 · Median rent $1,700/mo · Population 240K
Boise has been one of the fastest-appreciating markets in the US over the last 5 years, driven by California in-migration, remote work, and tech sector growth. Prices have risen but fundamentals remain solid.
Here's what the numbers look like on a typical Boise rental at current market rates (20% down, 7.5% rate, standard expenses):
| Metric | As-Is (Current Rents) | Stabilized (Market Rents) |
|---|---|---|
| Purchase Price | $400,000 | $400,000 |
| Down Payment (20%) | $80,000 | $80,000 |
| Monthly Rent | $1,530 | $1,700 |
| Monthly Mortgage | $2,237 | $2,237 |
| Monthly OpEx (est 35%) | $536 | $595 |
| Est. Monthly Cash Flow | $-1,243/mo | $-1,132/mo |
| Cap Rate | 3.0% | 3.3% |
* Estimates only. Uses 20% down, 7.5% rate, 30yr term, 35% expense ratio, 5% vacancy. Run your own numbers with the calculator below.
Best for cash flow: Focus on workforce housing in established neighborhoods with strong employer anchors. Avoid chasing the highest raw yield numbers — the 10% cap rate in a declining neighborhood often means vacancy and management headaches that destroy returns.
Best for appreciation: Target neighborhoods within 2 miles of job centers, universities, or transit that are in the early stages of gentrification. Look for the coffee shop / yoga studio signal — amenities follow renters, and renters follow amenities.
Best for STR: Tourism-driven markets near {name}'s key attractions offer 2–3× LTR revenue but require professional management and local regulatory compliance.
DSCR Loans: Most Boise properties qualify for DSCR financing with a 1.0+ ratio. Use our DSCR Calculator to check qualification before making an offer.