For a while, people who have lived in Idaho know that the state appeals to people wanting to escape to a state with a higher quality of life, ample recreation, and plentiful career opportunities. Lower taxes, fewer regulations, affordable housing, and quality education are also things that are attractive to those moving to the state.
While many Idaho natives and current residents would like to keep the Gem State a secret, the word is out about how great it is to live in the state.
As can be seen, by the demand for housing, there’s no hiding the fact that Idaho is a great place to live, especially as the national spotlight shines on this great state.
In the last year, Idaho, Boise, Meridian, and other locales were the subject of studies, reports, and guides touting the area’s livability. Some of the articles spoke about the housing market precisely and where the sites ranked nationally.
Let’s explore some of the accolades the state and the Treasure Valley have received in the last year and what it means for homebuyers in 2021.
Boise, ID – One of the Best Cities for Work-Life Balance
In early 2021, SmartAsset released a study showing cities that had the best work-life balance. Not surprising, Boise found itself in the Top 15, landing in the 14th position.
Boise, ID – One of the Nation’s Top Housing Markets
For people who live here in the Treasure Valley, it’s no surprise that the Boise area is poised to be one of the nation’s top housing markets this year. Realtor.com made a claim about the location for 2020, and it turned out to be incredibly accurate given the demand. Realtor.com followed-up their 2020 prediction saying Idaho will be the fourth hottest real estate market in the nation.
Wallethub also said the Boise area was the top real estate market in 2020.
For people looking to sell, the housing market continues to be on fire and offers people the opportunity to cash in and trade-up on equity accumulated in only a few short years.
Boise and Meridian Among Top 100 Places to Live in Nation
Last year, Livability.com looked at 1,000 cities and placed Boise (#35) and Meridian (#73) among the best cities to live in the nation. Boise earned its position for its relatively affordable housing, award-winning schools, and convenient access to recreation.
Meridian was praised for its pro-business climate and affordable cost of living. Speaking of Meridian…
Money Magazine Ranks Meridian One of Top 50 Best Places to Live
In 2020, Money Magazine said Meridian was among America’s best places to live, placing third on their list. The study touted the city’s ample outdoor recreational opportunities, livability, affordability, and career opportunities. Meridian found itself near the top of the list after Money investigated and evaluated 2,000 cities across the fruited plain.
The Boise Area one of the Best for First-time Homebuyers
SmartAsset conducted another study looking at the best cities for first-time homebuyers, and it found that Boise was the fourth-best in the nation. Boise’s proximity to recreation, it’s burgeoning tech sector, and its relatively lower cost of living is attractive to first-time homebuyers.
The Third Fastest Growing City in America – Meridian, ID
Financial services peddler Wallethub dubbed Meridian America’s third fastest-growing city behind Fort Myers, FL, and Bend, OR. Meridian was the best in the nation for overall sociodemographics and was in the top 100 for job opportunities and economy. Another study had Census Bureau data that showed Meridian was the sixth fastest-growing in the nation.
Regardless of the data, anyone who lives or works in Meridian sees how much the city has grown, surpassing Nampa as the second most populated city behind Boise.
Idaho Among Top States for Homeowner Equity
CoreLogic released a study last year that showed Idaho as one of the nation’s top states for homeowner equity. The survey results weren’t astounding, given how quickly home values have increased in the area.
Idaho, the Least Hated State in the U.S.
Online publication Best Life discovered that Idaho was the least hated state in the nation in 2020.
More People Moved to Idaho than Any Other State
Several of the nation’s top moving companies released their annual migration reports for 2020 and had Idaho as the top state for inbound moves. The majority of moves involved with the state were inbound as people relocated to the Gem State.
Idaho Top State in the Nation for Home Price Appreciation
According to monthly reports by CoreLogic, in 2020, Idaho was consistently one of the top states for home price appreciation. People buying homes were getting considerable equity as many areas experienced double-digit percentage increases in home values.
Idaho continues to generate a lot of interest from people outside of the state looking to move. The migration of former California residents is well-documented, but out of state interest doesn’t just belong to the Golden State. New York, Illinois, Utah, Washington, and Oregon are other states where people are expressing an interest in the Gem State.
As Idaho and its cities continue finding themselves on top of various “best of” or “top” lists, the desire to move here will only increase as the national exposure reinforces what current residents already know: that Idaho is a fantastic place to live.
Unfortunately, that interest will continue to drive home prices higher as demand continues to outpace supply. Anyone looking to sell their home right now is in a prime position to reap significant gains in their property’s value. On the converse, finding that next home is challenging as the number of available homes are near record lows.
All indications are that the market is going to continue to be torrid and favor sellers. The good news is that as the COVID-19 vaccine is more widely distributed, sellers may be more eager to sell their homes, which should help alleviate some of the inventory distress the area has seen. Time will only tell.
For now, it’s going to be interesting to see where Idaho and its cities appear on this year’s reports, guides, and studies. There’s probably a good chance the area will be on several top lists again.