Housing is a critical part of Idaho’s infrastructure.
Domestic migration away from the nation’s large metropolitan areas is affecting small- and mid-sized regions across the United States. As a result, since 2010, Idaho’s population has grown 17.3%, making it the second fastest growing state in the nation. Housing stock hasn’t kept pace; 2020 vacancy rates for owner-occupied housing (0.8%) and renter-occupied housing (4.4%) are below the national average. Since 2015, Idaho housing values have increased 74.8% while median household income has increased 17.9%. This all has resulted in 26.6% of Idaho households (42.1% of renters and 25.7% of home owners with a mortgage) paying 30% or more of their income on housing costs. These cost burdened households are more likely than other households to sacrifice necessities (such as food, transportation, and healthcare) in order to pay for housing costs, and they are also more likely to experience housing instability and evictions. Cost burdened households are reflected in all income brackets and in all of Idaho’s 44 counties.
Crossgrove Fry, Vanessa; McGinnis-Brown, Lantz; Kim, Cheong; and May, Matthew, "Idaho Statewide Housing Analysis 2022" (2022). Idaho Policy Institute Reports. 60.