Idaho has been one of the fastest-growing states in the U.S. since 2020, and the financial landscape has shifted dramatically. Boise — once an affordability haven — has seen home prices nearly double, pricing out many locals. In-migration from California, Oregon, and Washington has transformed the housing market, and the state now has a flat 5.695% income tax. Idaho still offers a lower cost of living than most western states, strong outdoor recreation, and a growing tech sector (Micron, HP), but the days of extreme affordability in the Treasure Valley are largely over.
Idaho at a Glance
| Metric | Value | National Rank |
|---|---|---|
| Population (2024) | 2.0 million | 39th |
| Median household income | $69,208 | 33rd |
| Median home price | $420,000 | Above average |
| Cost of living index | 102 | Average |
| State income tax | 5.695% flat | Average |
| Sales tax | 6% | Below average |
| Property tax (effective rate) | 0.63% | Below average |
Income and Housing
| City/Metro Area | Median Income | Median Home Price | Median Rent (2BR) | Affordability |
|---|---|---|---|---|
| Boise | $75,200 | $460,000 | $1,600 | Fair |
| Meridian | $85,400 | $490,000 | $1,700 | Fair |
| Nampa/Caldwell | $62,400 | $380,000 | $1,350 | Good |
| Idaho Falls | $65,800 | $320,000 | $1,150 | Good |
| Twin Falls | $58,200 | $285,000 | $1,050 | Good |
| Pocatello | $55,400 | $270,000 | $1,000 | Good |
| Coeur d’Alene | $62,200 | $520,000 | $1,500 | Poor |
| Moscow | $48,200 | $350,000 | $1,100 | Fair |
Boise commands the highest incomes in the state but also the highest housing costs — the gap has narrowed significantly since the pandemic-era boom. Twin Falls and Idaho Falls remain genuinely affordable, with strong income-to-housing ratios and growing healthcare and agricultural processing sectors. Coeur d’Alene in the panhandle has become a popular relocation destination for Pacific Northwest remote workers, but prices reflect that demand.
Idaho Pros and Cons
| Financial Pros | Financial Cons |
|---|---|
| Low property taxes (0.63%) | Boise housing has surged (doubled since 2019) |
| No tax on Social Security | Below-average wages (33rd in median income) |
| Growing economy (fastest pop. growth) | Limited high-paying job markets |
| Low crime rates | Resort areas very expensive (Sun Valley, CdA) |
| Outdoor lifestyle | Flat tax rate (5.695%) is mid-range |
Related: Cost of Living by State | State Income Tax Rates | Property Tax by State
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