Rental rates in the Boise Metro show varied trends across submarkets. According to ALN Apartment Data, Downtown Boise continues to command the highest rents, with 2-bedroom units averaging $2,199 and 1-bedroom units at $1,639, reflecting its premium urban location. Meridian closely follows with strong rent growth, with average rents across all bedroom types up at least 3 percent in the past 12 months. Boise & Garden City remain more affordable relative to the urban core, with 2-bedroom units averaging $1,612 and modest growth year-over-year from $1,567. Canyon County continues to offer the most affordable rental options, particularly for 1-bedroom units, which now average $1,325—up from $1,286 in 2024. It also recorded the most significant increase in average rents for 2-bedroom units, rising from $1,439 to $1,496. These rent hikes across all submarkets point to ongoing demand, with Downtown Boise and Meridian expected to maintain their positions as top performers in both pricing and growth trends.
Notable Absorption Despite concerns over the rapid rise in multifamily supply—approximately 16,000 units have been delivered across the Boise market since 2019— absorption trends remain encouraging. Since Q3 2024, over 1,900 newly delivered units have been absorbed, with the market averaging 191 new units leased per month. This steady demand has helped keep projected months of supply relatively low, currently hovering around 8 months, signaling a market that is still capable of digesting new inventory despite elevated delivery volumes in prior years.
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