Boise Rent Report: April 2024

Welcome to the Apartment List April 2024 Rent Report for Boise, ID. Currently, the overall median rent in the city stands at $1,233, roughly the same as last month. Prices remain down 5.0% year-over-year. Read on to learn more about what’s been happening in the Boise rental market and how it compares to trends throughout the nation as a whole.

Boise rents are flat month-over-month and down 5.0% year-over-year

The median rent in Boise rose by 0.4% over the course of March, and has now decreased by a total of 5.0% over the past 12 months. Boise’s rent growth over the past year has has fallen behind both the state (-2.8%) and national averages (-0.8%).

Boise rent growth in 2024 pacing below last year

Three months into the year, rents in Boise have risen 1.4%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to March 2023 rents had increased 2.1%.

March rent growth in Boise ranked #60 among large U.S. cities

Boise rents went up 0.4% in the past month, compared to the national rate of 0.6%. Among the nation's 100 largest cities, this ranks #60. Similar monthly rent growth took place in Sacramento, CA (0.4%) and Aurora, CO (0.4%).

Boise is the #75 most expensive large city in the U.S., with a median rent of $1,233

Citywide, the median rent currently stands at $1,066 for a 1-bedroom apartment and $1,228 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $1,233. That ranks #75 in the nation, among the country's 100 largest cities.

For comparison, the median rent across the nation as a whole is $1,220 for a 1-bedroom, $1,374 for a 2-bedroom, and $1,388 overall. The median rent in Boise is 11.1% lower than the national, and is similar to the prices you would find in Corpus Christi, TX ($1,241) and San Antonio, TX ($1,208).