What to Expect When Moving to Idaho

Idaho has been a popular option for relocation for years, and the pandemic ignited even more interest in this hidden gem state. With an abundance of open space, outdoor recreation, and a family-oriented lifestyle– Idaho is a top choice for seeking a better quality of life. But before you jump in the car, here are a few things to expect when looking to call Idaho home.   1. Population and Demographics (Photo: Daniel Olson) Idaho led the nation in population growth for the 5th year in a row in 2021. The population stands around 1.939 million as of January 2023, up 5.4% from April 2020 to July 2022. 16.6% of the population is over 65 years old, 24.7% is under 18 years old, 6% is under 5 years old, and the remainder between 18 and 65 years old. Population per square mile is 22 people, one of the most sparsely populated states. Idaho as a whole is considered conservative in voting, with the Boise metro area voting 57% republican, 39.4% democratic, and 3.6% independent in the last presidential election. Demographics White: 92.8% Hispanic/Latino: 13.3% Asian: 1.6% American Indian or Alaska Native: 1.7% Native Hawaiian or Pacific Islander: 0.2% Black or African American: 0.9% Mixed Race/Other: 2.7% 91.2% hold a high school diploma 29.1% hold a college degree or higher   2. Geography (Photo: Jenn Jackson) Idaho is the 11th largest state by land area in the United States, measuring 82,643 square miles. It is completely landlocked surrounded by 6 states (Washington, Oregon, Nevada, Utah, Wyoming, Montana) and Canada. It is part of the Pacific Northwest. The topography of Idaho is majority mountainous, with expansive desert in the southwest portion of the state. There are over 4.7 million acres of wilderness, marking Idaho as the 3rd largest wilderness in the country (behind Alaska and California). Idaho has one of the most diverse landscape profiles, with large regions of dense forest, vast desert, deep canyons, rocky craters, and towering mountain ranges.   3. Weather (Photo by Click Suice, Unsplash) The climate in Idaho is generally mild, with average temperatures between 24 and 93 degrees fahrenheit. The state's western region is milder than the eastern region, where winters are more arduous and longer. There are 4 distinct seasons, where residents enjoy crisp spring temps, warm and sunny summers, cool and color-filled autumn, and snowy winters. Idaho is one of the drier states in the nation. Average rainfall varies throughout the state, with Boise seeing around 12” per year and the higher-elevation mountain town of McCall seeing 25”. Average snowfall in Boise is 18”, below the national average. However, the town of Stanley (located just 3 hours away) is one of the most heavily snowed and coldest locations in the nation, with an average of 75.9” of snow per year and 270 days of below-freezing temperatures. Idaho is one of the sunniest states with 206 days of sun, but be warned, southwestern Idaho (particularly the Boise area) experiences an annual inversion season in January with consistent cloud cover. The remedy is to head 35 minutes north to Bogus Basin Ski Resort, where sunshine and surreal views above the clouds await.    4. Economy (Photo: BluFish Photography) Idaho’s beginnings in fur-trading and mining have given way to surprising industries. Its $3 Billion tourism industry plays a large role in the $78.9 Billion economy, and other major industries include advanced manufacturing, aerospace, computer technology and innovation, energy, food production and recreation technology. 62.8% of Idaho's population is employed, and has one of the lowest unemployment rates at 2.9% as of 2023. Idaho is great for business, with higher-than-average statewide growth, low taxes, and low cost of living/operation. Idaho ranks #3 for the economy in the nation by U.S. News. The largest employers of the state include Micron Technology, Albertsons, St. Luke’s Health System, J.R. Simplot, WinCo Foods, Lamb Weston, Melaleuca, and Boise Cascade.   5. Outdoor Lifestyle (Photo: Daniel Olson) The great outdoors is the top reason that draws people to Idaho. Over 4.7 million acres of wilderness blanket the state, offering a vast playground for outdoor recreation. Idaho has 30 state-owned parks, hundreds of established free and fee campgrounds, and 7 national forests to explore. Nearly every outdoor activity can be done in Idaho; from hunting, hiking, boating, fishing, skiing, camping, paragliding, and even surfing. Residents can enjoy all of these activities within an hour or less of Boise. The close access to outdoor recreation is the main attraction to Idaho’s capital city, Boise, where picturesque rolling foothills are the backdrop to the downtown skyline. The Ridge to Rivers trail system is a network of over 190 trails and roads connecting residential areas to public land. Residents take advantage of access to hiking and biking trails directly from their neighborhoods, or within a short 20-minute or less drive from a majority of the city to a number of trailheads. The Boise River runs through the city, and is a beacon of activity for humans and wildlife alike. The 25-mile paved Boise River Greenbelt runs along the north and south sides of the river, where cyclists and pedestrians can enjoy exercise with serene riverfront views. Anglers are commonly seen wading through shallow portions of the river, which at its deepest is 15’. Bass and trout are common species of fish caught in this river. Sturgeon and salmon fishing, along with river boating, are highlights of the Snake River in the Hells Canyon area, where a record 117” white sturgeon was caught in 2016. Skiing is one of Idaho’s favorite pastimes, as the state boasts the first-ever ski destination resort with a chairlift in Sun Valley. The resort has come a long way since opening in 1936, and is now a world-class getaway for locals and tourists alike. Located 2.5 hours from Boise, Sun Valley is home to the state’s wealthiest residents and celebrities, but retains its small mountain town charm and rustic heritage.   6. Cost of Living (Photo: Abby Blossom Idaho is a relatively affordable place to live with lower costs of groceries, utilities, and taxes compared to massive metropolitan areas. During the pandemic, Idaho became a popular choice for relocation, due to its affordability and access to the outdoors. Housing costs in Idaho have jumped higher than the national average, as demand surpassed anyone’s expectations. The current median price for a home in the state is $487,495. Still, Idaho is affordable compared to other metropolitan areas like Seattle, Denver, and Salt Lake City. Transportation costs are lower than average, with an average commute time of 20.6 minutes, the national average is 26.4 minutes. Power bills are typically lower in the state, as multiple sources of energy are tapped, including hydroelectric power. The sales tax is 6% as of 2023. State income taxes are based on a graduate system, and range from 1-6.5%. Idaho does not tax Social Security and has relatively low property taxes, making it a great option for retirees.   7. Real Estate (Photo by BluFish Photography) It’s no question that Idaho’s real estate market has been explosive over the past few years. Historical trends show Idaho is a good place to invest in real estate. During the pandemic, Idaho’s real estate market took off far beyond expectations and national averages. The median home value soared 70.19% from 2019 to 2023 for single-family homes in Ada County alone (from $286,450 to $487,495). The fastest-growing cities in the state are primarily in the Treasure Valley (Boise, Eagle, Nampa, Meridian, Caldwell) and a couple of honorable mentions (Post Falls and Rexburg). Resort towns like Coeur d’Alene, Sun Valley, and McCall experienced a rush of new residents in the wake of the pandemic, when remote work opportunities and lifestyle priorities shifted. Investors were particularly interested in these towns as short-term rentals became a hot commodity. Concerns about affordability have emerged as growth has surged beyond local means. Lower-income and first-time homebuyers may find the Boise core to be a difficult market to buy into, and may look to satellite cities like Nampa and Caldwell for more affordable housing. Meridian, Caldwell, and Nampa were the fastest-growing cities in Idaho in 2022. The median sales price for an existing home in Canyon County, where these cities are located, was $395,445 at the beginning of 2023. City leaders throughout the state are considering innovative methods to provide affordable housing, but the high demand and extremely low levels of inventory continue to put pressure on Idaho’s steaming hot market. Demand for Idaho does not appear to be going anywhere for at least a little while. In 2020, about 70% of moves in Idaho were inbound and 30% outbound. California, Washington, and Oregon were the largest contributors to new residents.   Hiring a knowledgeable Realtor is key to finding success in Idaho’s in-demand market. Reach out to us for your buying and selling needs by phone (208) 870-8292 or on the web www.lysibishop.com   Sources:  https://www.census.gov/quickfacts/fact/table/ID/PST045222#PST045222 https://www.usnews.com/news/best-states/rankings/economy https://www.bestplaces.net/cost_of_living/state/idaho https://www.idahostatesman.com/news/nation-world/national/article26

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