Takeaways from Idaho REICon (Boise)

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Takeaways from Idaho REICon (Boise)

Vaibhav PuranikPro Member
Member since 2025 · 86 posts · 48 votes

Just got back from the Idaho REICon in Boise. Smaller event — around 120 attendees — but a lot of signal. I also drove through Nampa, Caldwell, Star, Eagle, and Emmett myself, so the observations below are firsthand. Sharing what I picked up:

Market

  • Boise cap rates are very low — lower than what I'm seeing in Modesto, CA. Rents in the greater Boise area are lower than Modesto's too

  • Housing supply is tight in Boise proper. Meridian has absorbed a lot of the spillover, Nampa is filling up, and demand is pushing further out to Caldwell

  • Star and Eagle (north of Boise) are attractive markets with heavy new construction — cap rates are compressed there too. Eagle stood out as an affluent area — I stopped by a large farmers market with an upscale crowd, and the homes are noticeably larger, many of them mansion-style

  • Development is concentrated west and north of Boise; the east and south remain largely undeveloped

Demand drivers

  • Micron is building two fabs, bringing in thousands of temporary workers — construction crews, electrical technicians, plumbers

  • Meta is building a large data center in Kuna

  • Furnished mid-term rentals are gaining real traction — PMI of Tree City Property Management mentioned they're seeing strong demand. I've heard ~15% management fees quoted by other managers in the market

Also met with Jonna Weber — she knows the Boise market well and coaches newer investors in the area.

Made some great connections and handed out copies of my book to a few folks. Happy to compare notes with anyone else who was there.

[email protected]
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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1d

    Thanks for posting for all to read!

    [email protected]248-209-6824
    Logical Property Management4.9460 Reviews
    WebsiteView Page
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  • Ryan SpathBusiness Member
    Real Estate Agent · Boise, ID · Member since 2017 · 571 posts · 378 votes
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    Great recap! I live and invest here in the Treasure Valley and was at REICon as well.

    I agree with a lot of what you saw, especially on cap rates. If you're looking for strong cash flow on a traditional long-term rental, Boise can be a tough market to make the numbers work. I think a lot of the opportunity here is in long-term appreciation, population growth, and job growth.

    One thing I'd add is that I wouldn't necessarily look at Caldwell as just where people are being pushed because Boise, Meridian, and Nampa are filling up. Each city has its own market dynamics, and there is still a tremendous amount of development happening throughout the valley. Where people choose to live typically comes down to where they work, where their kids go to school, and probably most importantly, what they can afford.

    Star and Eagle are good examples. Eagle is more established and higher-end, while Star is still experiencing significant growth with a lot of new construction and infrastructure coming in. Once Highway 16 connects through to I-84, I think Star will become much more commuter-friendly and open up to a larger pool of buyers. Add in Valnova being developed farther north toward Emmett, and I think that whole corridor could get really interesting over the next 10–20 years.

    I think Micron is going to be a big driver over the next several years. The temporary workforce creates some interesting opportunities for mid-term rentals, but the longer-term impact of permanent jobs and supporting businesses is what really interests me. I'm already seeing the impact firsthand with both tenants and buyers I work with. Some are earning significant wages that are putting homeownership within reach when it otherwise may not have been possible.

    Beyond Micron, you also have the continued influx of COWs (California, Oregon, and Washington transplants). A lot of these folks are moving here for retirement, quality of life, or simply a change of pace. There are even people living here who commute back to California for work. I have four firefighters in my own neighborhood who do exactly that.

    Another strategy I think could do well here is rent-by-the-room. With the influx of workers coming for Micron and other projects, there could be a real opportunity for furnished room rentals. Traditional rentals are tough to cash flow at today's prices and rates, but renting by the room could make the numbers work on properties that otherwise wouldn't. Obviously, you need to buy the right property in the right location and make sure the demand is there.

    One thing I've learned over the years is that you can change just about anything about a property except its location. That's something I put a lot of weight on when evaluating investments, especially in a growing market like ours.

    Glad you made it out here and got to see the different areas firsthand. Would have been great to connect at the event!

    [email protected]208-600-2814
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