Idaho: In the Spotlight
Idaho, often known as the Gem State, is home to roughly 1.6 million people. The state of Idaho is the 39th most populous state and is also home to cities like Boise, which is the most populated city in the state with more than 229,000 residents. Meridian is another key location in the state, with more than 129,000 people calling the region home.
- Idaho’s economy was originally developed around gold mining.
- Micron Technology, Inc. is the largest employer in Idaho, with over 8,000 employees.
- Science/Technology, Food Processing, and Lumber are the largest industries in the state.
- The average household income is $55,785.
- The average age in Idaho is 36 years old.
- Idaho has over 616,000 employees across the state.
- The homeownership rate is 70%, which leaves around 30% of the residents looking for apartments and rental properties.
Idaho Apartment Loan and Multifamily Property Facts
Idaho is seeing significant growth in many cities and regions when it comes to new residents seeking multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- Idaho is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in Idaho are 1.97% higher than the previous year.
- The average rent in Idaho is $853.
The market for commercial real estate in Idaho is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
Idaho Apartment Loan and Lending Options
In the state of Idaho, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Boise or a simple eight-unit property in an up-and-coming neighborhood of Nampa. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS Loans
- Apartment construction loans
- And more!
Finance Your Idaho Apartment Building Now
The team at Apartment.loans specializes in commercial financing for all kinds of real estate and apartments in Idaho and throughout the United States. We have solutions for commercial real estate, traditional apartment financing, value-add opportunities, and more. We can even help you with ground-up developments or just get you financed for a stabilized property so you can be on your way.
Our team of experts knows what it takes to get the loan funds that you need. Whether you’ve got a special investment in mind, or you have basic funding needs, let us know how we can help. We'll give you all of the tools and resources you need to take your Idaho apartment loans to the next level. To learn more and start your investment journey, contact our Idaho Apartment Lending Specialists at [email protected] or (800) 567-9631.
Our apartment finance brokerage and lending strengths can be seen throughout the state, with a particularly strong presence in Boise, Nampa, Meridian, Idaho Falls, and Pocatello.
Apartment loans from $750,000 and up.