Current home values in Boise

Since the summer of 2020, the median home price in Boise has climbed by over 42.1%. In July 2020, the typical Boise home was selling for $370,000. As of July 2024, that number has increased to just under $526,000, according to data reported by We Know Boise.

With this increase in prices, the Boise market looks promising for homebuyers who hope to see their property value appreciate over the next several years.

“With a home appreciation of 218% and yearly growth of 12% on average over the last 10 years, Boise shows the potential to be one of the best places to buy property,” said Jeff Tricoli of the Tricoli Team in a recent report by Yahoo! Finance.

“This trend is expected to be followed even in the coming years, making more sense to buy in the market,” said Tricoli.

The table below illustrates just how high home prices have climbed in the Boise region over the last five years:

This trend isn’t just affecting Boise — it’s a nationwide phenomenon. The S&P CoreLogic Case-Shiller National Home Price Index revealed that home prices across the United States have surged by over 50% since the beginning of 2020.

This significant increase has been largely beneficial for homeowners, allowing many to build up substantial equity in their properties. This newfound equity can be used to pay off debts, invest in new properties, renovate existing homes, or even contribute to retirement savings. As of early 2024, ICE’s Mortgage Monitor revealed that the average U.S. mortgage-holding homeowner has about $299,000 in equity.

For comparison, the table below shows median home prices in cities and suburbs near Boise:

In the next section, we’ll guide you through the best tools to estimate your Boise home’s value.