1. What is the average home price in Idaho right now?
As of mid-2025, the median home price in Idaho is approximately $475,487, reflecting a 1.8% increase over the past year. In Ada County (which includes Boise and Meridian), prices are higher, while areas like Canyon County offer more affordable options.zillow.com
2. How much income do I need to afford a home in Idaho?
To comfortably afford a median-priced home in Idaho, a household income of around $110,000 is recommended. This estimate ensures that housing expenses remain within 30% of your gross income, a common benchmark for affordability.
3. What down payment assistance programs are available in Idaho?
The Idaho Housing and Finance Association (IHFA) offers several programs to assist homebuyers:
- First Loan Program: Pairs with FHA, VA, or USDA loans to provide competitive interest rates.
- Down Payment Assistance: Offers up to 7% of the home’s purchase price as a second mortgage.
- Finally Home!® Education Program: A course that educates buyers on the homebuying process, budgeting, and maintenance. downpaymentpath.com
4. Are fixer-uppers still a good investment in Idaho?
The popularity of fixer-uppers has declined due to rising renovation costs and labor shortages. While they can still be a good investment for experienced buyers, most first-time buyers prefer move-in-ready homes to avoid unexpected expenses and delays.
Local Insights: Boise & Meridian Highlights
- Boise Bench: Known for its mid-century homes and proximity to downtown Boise.
- North End: Features historic homes and tree-lined streets.
- Meridian: Offers family-friendly neighborhoods with new developments and amenities.
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Top 10 Idaho Homebuyer Questions (2025 Edition)
1. What is the average home price in Idaho?
- Approximately $475,500, varying by region.
2. How much income is needed to buy a home in Idaho?
- Around $118,000 annually for a median-priced home.
3. Are there down payment assistance programs in Idaho?
- Yes, through IHFA, including forgivable loans and second mortgages. nwboise.org+4idahohousing.com+4ark7.com+4
4. Is buying a fixer-upper advisable in Idaho?
- Less so in 2025 due to high renovation costs and labor shortages.
5. How do I select a real estate agent in Idaho?
- Choose one with local expertise, experience, and positive client feedback.
6. What are the benefits of the Finally Home!® program?
- It educates buyers on the purchasing process and may qualify them for assistance programs.
7. Are home prices expected to rise or fall in Idaho?
- The market is stabilizing, with modest price increases anticipated.
8. What should I know about the new agent compensation rules?
- Buyers must sign agreements detailing agent compensation before home tours. listwithclever.com+6wsj.com+6idahorealtors.com+6
9. Which areas in Boise are best for families?
- Meridian and the North End are popular for their amenities and schools.
10. How long does the homebuying process take in Idaho?
- Typically 30-45 days from offer to closing, depending on various factors
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