Boise Sees Nation’s Largest Rent Increase During Pandemic
Even during a pandemic, rent has been on the rise here in Boise. I probably don't have to tell you that, though. As a renter myself, I've been awfully curious of what is next for me at my place with a lease that is quickly coming due. How can this be? Well--I wish it weren't so just as much as you do.
A recent survey released by Apartment List (you're familiar with them if you've ever had to apartment hunt before) shows that on a national scale, Boise is ahead of everyplace else...by a landslide. Of course, that's when it comes to rent increases--nothing super cool.
From January 2020 to last month, January of 2021, rent prices were up 12.4%.
When I moved back here to the Treasure Valley, my home, in May of 2016, my rent was $750 a month! I haven't moved since then (my location is perfect and I just hate moving) and now I pay well over $1,000. For what? My landlord hasn't done a single thing for me-- no improvements, no upgrades, no courtesies. I guess it's just going up because everyone else's is? Lame.
You can see the entire survey, their methodology, and their findings HERE.
When you take a look at their interactive map and hover over Boise, I think you will be as entertained as I am. Along with that 12.5% rent increase, you will see that the median rent for a 1 bedroom apartment is labeled as $863. I'll buy lunch for you if you can show me a 1-bedroom apartment in Boise for $863 or lower.
What do you think about all of this? It's a little scary, if you ask me. Rent is soaring high, the housing market is more competitive than it has ever been--locals like myself have to wonder how long until we're booted out of our own city?
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