Home Values in Idaho
The median home value in Idaho is $370,000. Idaho saw extraordinary appreciation 2019-2022 (60-80% in Boise), driven by remote worker in-migration. Prices have moderated but remain well above 2019 levels.
What Drives Home Values in Idaho?
Several Idaho-specific factors influence home values beyond national trends:
- Property tax burden: At 0.63% (avg. $1,817/year), Idaho's taxes are below average — a buying incentive
- Assessment methodology: Idaho assesses property at 100% of market value, with the taxable value for primary residences reduced by the Homestead Exemption.
- Buyer exemptions: Idaho's Circuit Breaker program reduces the taxable value of a primary residence by 50%, up to a maximum of $125,000 in exemption value.
- Financing limits: Conforming loan limit is $726,200 — All Idaho counties are at the standard conforming limit, though Blaine County (Sun Valley) may qualify for high-cost treatment in certain years.
Closing Cost Consideration
When estimating net proceeds from a home sale, account for closing costs and transfer taxes. Sellers in Idaho typically pay 6-8% of the sale price in total transaction costs. Idaho has low transfer taxes and recording fees, keeping closing costs below the national average.
Frequently Asked Questions
What is the average home value in Idaho?
The median home value in Idaho is $370,000. Idaho saw extraordinary appreciation 2019-2022 (60-80% in Boise), driven by remote worker in-migration. Prices have moderated but remain well above 2019 levels.
How do property taxes affect home values in Idaho?
Idaho's effective property tax rate is 0.63%, with an average annual bill of $1,817. This low tax burden is a positive for Idaho home values — lower carrying costs increase buyer demand.
What is the conforming loan limit in Idaho?
The conforming loan limit in Idaho is $726,200. All Idaho counties are at the standard conforming limit, though Blaine County (Sun Valley) may qualify for high-cost treatment in certain years. Buyers needing loans above this require jumbo financing.
How much are closing costs when selling a home in Idaho?
Sellers typically pay 6-8% of sale price in total transaction costs. Idaho has low transfer taxes and recording fees, keeping closing costs below the national average. Buyers pay an additional $2,800 in closing costs.