Last updated on June 21st, 2023
best places to Airbnb in idaho
Key Takeaways
• Idaho has a thriving economy with an affordable living cost and real estate market as well as a solid tourist market. Thanks to this, many hosts have the chance to earn a nice rental income by owning Airbnb properties.
• Get to know the advantages that real estate investors can enjoy when investing in the real estate market in the state of Idaho.
• Find out the top 10 areas around Idaho along with their recommended property types, average prices, and specific Airbnb data.
Introduction
Idaho is located in the Western region of the US, being flanked by 6 different states: Washington, Nevada, Utah, Oregon, Wyoming, and Montana. Idaho is home to plenty of natural areas such as parks and forests! That’s why the state is a piece of paradise for everyone who loves to experience exciting outdoor adventures or simply enjoys admiring nature’s wonders.
Best known as the “Gem State” because of its plentiful abundance of natural stones, Idaho has a friendly atmosphere, a low cost of living, a booming economy, and an abundance of natural beauty. So, it’s no surprise that the Idaho market has caught the attention of real estate investors like you.
Feel free to listen and learn more about Airbnb hosting in Idaho on our Into The Airbnb podcast as we talked to Lori, an experienced host of this city:
Yet, there’s still an important factor that you should consider before taking the next step in your journey – where are the most profitable areas for investment properties in Idaho?
In this article, you will discover the best places to invest in Airbnb in Idaho, including some of the reasons why investing in real estate in this city is a worthwhile option. Interested in learning more? Then continue reading.
Why should you consider investing in Idaho real estate?
Investing in real estate in one of the cities of Idaho is a great idea because it offers a good return to investors. Most importantly, they can eventually achieve financial freedom! But you may wonder: what are the advantages that Idaho offers to real estate investors?
Check out some of the reasons why buying an Airbnb investment property in Idaho is an excellent idea:
Booming economy
Idaho is enjoying a booming economy with a GDP of $78.9B which grows at a rate of 1.2% annually. According to IBISWorld, Idaho’s GDP growth holds the 3rd place nationwide as of 2022.
There are plenty of job opportunities in Idaho and the top industries that contribute a lot to the state’s economy are tourism, mining, science & technology, and food processing. Moreover, the unemployment rate across the state is 2.6%.
Thanks to its thriving economy, the population in Idaho is slowly but steadily increasing. In fact, it is the 2nd fastest-growing state in the US with a growth rate of 1.8%. Hence, Idaho offers a stable real estate market with attractive investment opportunities that guarantee a good rental income.
Plenty of things to do
Are you an outdoor lover? Because you will absolutely enjoy investing or living in Idaho since it is surrounded by extraordinary national landscapes! The state is home to a wide variety of natural parks and recreation facilities such as the Dark Sky Reserve, Craters of the Moon National Monument and Preserve, and Yellowstone National Park among others. For this reason, Idaho is an incredible place to have exciting experiences while enjoying the mountain’s fresh air.
There’s always a wide range of recreational activities available in Idaho. It doesn’t matter if you choose to visit the state during the summer or winter. In the summer and spring, you can choose to practice sports like kayaking, hiking, biking, and rafting. While during the winter, you can go to one of the many skiing resorts like the Bogus Basin Mountain Recreation Area. Other skiing destinations also include Schweitzer Mountain and Sun Valley.
Is Idaho an affordable state to live in?
Overall, Idaho remains an affordable state where the cost of living and real estate market is still cheaper compared to other states. Investors certainly can find cheap properties in urban or rural areas at low prices starting at $250,000. Additionally, property taxes in Idaho are relatively lower than in other states as confirmed by SmartAsset
According to Zillow, the average home value in Idaho is currently priced at $435K. But we can find cheaper real estate in certain real estate markets in a number of cities in Idaho. The median housing price is $341K in Twin Falls, $349K in Idaho Falls, and $382K in Nampa. However, if you want to target Boise real estate market for investments, the price goes up a bit as it’s currently at $466K.
Is Airbnb Profitable in Idaho?
Take it easy because Airbtics assures you that investing in real estate in Idaho can turn into a financially rewarding experience. That being said, we must point out that the level of profitability depends on other factors such as the property type and location.
According to Airbtics’ data, an Airbnb host can expect an average annual revenue of $30,329 and a median occupancy rate of 78% for operating a 1-bedroom property in the city of Boise.
Top 10 Rental Markets to Invest in Idaho
While there are a variety of Airbnb host expenses to consider, the most important part that you should analyze is the property’s location.
Idaho has over 44 counties and 201 designated municipalities cities, each of which is divided into a variety of neighborhoods. This means that the profitability in each neighborhood differs from one another! Thus, it can become a challenge to choose the appropriate location for your investment property in Idaho.
Check out the best cities in Idaho recommended for starting an Airbnb business:
1. Sun Valley, ID
- Total Number of Airbnb Listings: 293
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $699,500
- Airbnb Annual revenue: $70,720
- Gross rental yield: 10.11%
2. Ketchum, ID
- Total Number of Airbnb Listings: 100
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $742,500
- Airbnb Annual revenue: $69,290
- Gross rental yield: 9.33%
3. Island Park, ID
- Total Number of Airbnb Listings: 118
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $599,900
- Airbnb Annual revenue: $63,164
- Gross rental yield: 10.53%
4. Coeur d’Alene, ID
- Total Number of Airbnb Listings: 538
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $589,900
- Airbnb Annual revenue: $58,307
- Gross rental yield: 9.88%
5. McCall, ID
- Total Number of Airbnb Listings: 499
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $699,900
- Airbnb Annual revenue: $46,703
- Gross rental yield: 6.67%
6. Boise, ID
- Total Number of Airbnb Listings: 1,137
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $482,000
- Airbnb Annual revenue: $46,201
- Gross rental yield: 9.58%
7. Nampa, ID
- Total Number of Airbnb Listings: 164
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $394,900
- Airbnb Annual revenue: $39,858
- Gross rental yield: 10.1%
8. Sandpoint, ID
- Total Number of Airbnb Listings: 149
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $399,900
- Airbnb Annual revenue: $38,870
- Gross rental yield: 9.72%
9. Idaho Falls, ID
- Total Number of Airbnb Listings: 210
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $399,900
- Airbnb Annual revenue: $36,507
- Gross rental yield: 9.13%
10. Twin Falls, ID
- Total Number of Airbnb Listings: 180
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $345,000
- Airbnb Annual revenue: $36,311
- Gross rental yield: 10.52%
Summary
Overall, Idaho’s real estate market offers a variety of low-priced housing options from plenty of profitable locations. This testifies that investors can obtain a good return on investment by simply setting up an Airbnb listing!
After finding out the best places to Airbnb in Idaho, go ahead and check Airbtics’ short-term rental calculator. Maximize your gains by making use of the best analytics tools!
Explore The Most Profitable Airbnb Locations in Idaho
