Another week and another list that Boise, Idaho, has made its way onto as we head toward a new decade. This time, it’s made the Inc.com list of “Surge Cities”, which chronicles the Top 50 best U.S. cities for starting a business in 2020.
Boise landed at number five on the list bested only by Austin, Salt Lake City, Durham, and Denver. Great company to be among for sure.
Boise’s ranking was based on its population growth (#2), it’s job creation capabilities (#3), and its net business creation (#3). With hordes of people relocating to the area from other states, including California’s Silicon Valley, it’s not surprising to see it becoming a hub for tech and other startups.
As entrepreneurs are looking for locations that offer lower-priced housing and are less crowded from a startup perspective, it makes sense that Boise would be a prime destination.
Couple this new report with Realtor.com’s “Top Real Estate Markets for 2020” which dropped a couple of days earlier, 2020 is expected to be an even hotter real estate market in Boise than it is currently.
Some other facts to consider: according to data obtain from Zillow, the year over year home price in Ada County, where Boise is located, rose about 7% versus last year. Canyon County, one of the neighboring counties to the west of Ada County, saw a 16% increase in home values. It was recently announced, too, that Canyon County is going to be home to a new Amazon distribution center which will bring hundreds of jobs to the area. The new distribution center is going to open in Nampa in 2020 which will foster additional increases in home values in the area.
The perfect storm seems to be shaping up for the location given the regular national media attention it’s been receiving coupled with the volumes of people already moving here from other states, low interest rates, and tight housing supplies. Consequently, Boise is primed to have an explosive real estate market in 2020 offering great opportunity for people looking to sell their home.
If you’re looking to relocate to the Treasure Valley from out of state, or desire moving to a new home in the area, it’s important to work with a Realtor® who knows the market and can find you your perfect home. Additionally, a Realtor® is your advocate in helping you negotiate the best deal when buying or selling a home. If you’re interested in learning how we can help you capitalize on the market, please contact our office at 208-278-4300.