Idaho experienced a growth rate of 15% in household median income in the 2018-2022 American Community Survey by the Census Bureau, compared to the previous 2013-2017 survey. As a percentage of increase, this was highest in the nation ahead of California (14.3%), Oregon & Washington (14%) and Arizona (13.3%).

Idaho also had the 5th highest increase by dollar amount from the previous survey, gaining $9,153 to an estimated median household income of $70,214. Wages increased in many sectors of the economy and the housing boom’s increased demand for construction workers and remote workers were also a factor.

So, wages are climbing, improving affordability in Idaho. Near-future home buyers should not hope for falling home prices, other than seasonal fluctuations. Our recent population growth and low inventory is providing strong upward pressure on home prices and the only way out is building more housing stock or deport all the Californians (joking). There is also good news on that front:

With an increase of nearly 57,000 units, our state also ranked 4th in all states for housing unit growth from the previous survey. The Boise-Nampa MSA accounted for 62% of the increase, followed by Kootenai County (11.4%) Bonneville County (9.4%) and Twin falls County (7.9%).