Boise’s housing market continues to settle into a more balanced phase after several years of rapid expansion. Strong population growth and a resilient labor market with ongoing investment from major employers like Micron continue to support long-term housing demand. That said, rising finished inventory and moderating construction activity suggest the market is recalibrating, shifting from expansion to strategic pacing as supply and demand try to find an equilibrium.
Demographics and Employment
Boise’s underlying economic and population trends remain solid. Total jobs grew by 2.5% in 2025 to over 414,413. By 2026, Boise’s employment is expected to reach almost 423,000 (+2.0% projected year-over-year growth); by 2027, it should reach approximately 432,400 (+2.3% projected year-over-year growth).
Along with employment, population growth continues to support housing demand. The Boise metro is home to approximately 891,080 (+2.3% year over year) residents that comprise 335,240 total households (+3.0% year over year).
And residents appear financially healthy: Boise’s median household income climbed 3.9% this year to $95,870, more than $10,000 above the U.S. median. Looking forward, the market’s median income is forecast to grow the most through 2028 in the two highest categories, those households making $150,000 to $200,000 and over $200,000 annually.
Sales Performance and Momentum
Demand for new homes remains relatively strong, with annualized new-home sales increasing by 15.9% year over year in January to 5,909 units. Detached homes accounted for the vast majority of activity, with 5,549 sales over the past 12 months (+15.3% year over year), while attached homes represented just 360 sales (+25% year over year).
Along with volume, sales pace has remained relatively healthy. In January, the average sales rate reached 2.6 homes per community, according to Zonda, in line with the broader Idaho market and above the national average of 2. While affordability constraints remain a factor, strong household growth and continued in-migration have likely helped sustain buyer activity.
That said, the new-home market has seen some price declines recently, with the median new home closing price 4% lower year over year in December 2025 at $457,000. Listing price performance for new homes is split by product type: the average listing price for a new detached home was up 6% year over year in February to $568,371, while the average listing price for a new attached home was down 2.9% year over year to $424,122.
Inventory Landscape
New-home supply is another area where Boise’s housing market is showing clearer signs of adjustment. Following several years of aggressive construction, builders moderated their Boise activity in 2025, with annual observed housing starts declining nearly 5% year over year while closings remained relatively steady.
Finished inventory represents the most notable shift here. As of Q4 2025, completed vacant homes have increased 33.8% compared with a year ago, reaching their highest level since 2012. At the same time, builders appear to be managing spec exposure more carefully: the average number of quick move-in homes per project fell during the first three months of 2026 to approximately 1.9 per project.
Looking Forward
Boise’s demographic and economic fundamentals continue to point toward potential for sustained long-term housing demand. However, the near-term pricing and supply environment will likely require careful supply management as builders navigate the market’s deteriorating local affordability, elevated finished inventory, and a growing lot pipeline.
The insights in this article were taken from a more in-depth Market Report published in Zonda’s National Outlook subscription.
