BuyersEntrepreneurInvestment Properties May 9, 2017

Why is Boise Growing?

Key Takeaways: 

 

  • As always, Boise recreation and quality of life are perennial “Top 10” nationally
  • Idaho is the number 2 ranked state in US, for tech sector job growth 
  • Boise has been ranked #13 city in the nation for business and careers
  • Unemployment under 4%: Technology, Agriculture, & Construction 
  • Boise has a unique and superior value proposition when compared to other major metro areas such as Seattle and Portland.  

 

My hometown of Boise, Idaho has been in the top 10 of so many national lists that I have lost count. It is frequently seen as a lifestyle and recreation center with much to offer the outdoor enthusiast. However, what is not as often discussed is the vibrant economic hub that Boise is becoming in the Pacific Northwest. 

 

Boise is a unique city. Geographically, it lies in a river-valley which has a tendency towards temperance that can be rare to find in the high desert of the West and Northwest. The Boise River winds out of the nearby mountains to the North and North East and through a mild valley towards the Snake River to the West.  The river, nearby mountains, multiple reservoirs, mild climate, and local embrace of recreation, all combine to make Boise a destination for anything outdoors. Within an hour drive (or a 5-minute walk depending on your destination) of Boise’s thriving downtown corridor, you can find world-class whitewater rafting, rock climbing, skiing, world-class mountain bike trails, hiking, running, hunting, fishing, off-roading, and just about any other outdoor activity you should desire. 

 

Due in part to a balance of progressive thinking and relative youth (as compared to the larger and more mature metro areas of Portland and Seattle); the Boise region enjoys low crime rates, very little air pollution, good schools, and a low cost of living. These factors, when combined with the attraction of boundless outdoor activity, make Boise a lifestyle and recreation destination that draws an enormous amount of relocation residents from Southern California, Portland, Seattle, Salt Lake, Denver, Houston, Dallas, and various parts of the South and Mid-West.  Boise, Idaho can offer a standard of living which is difficult (if not impossible) to match, in the Western United States. 

 

As could be expected, the increase in relocation and retirement population has been a boon for the Boise residential markets, and associated industries. As exciting and encouraging as this may be, it means very little too long term economic (and real estate) stability, without the corresponding growth in jobs to support all the new residents.  Encouragingly, in recent years, Boise has shown signs of carving out a few important economic niches. Not the least of which is the burgeoning growth in the tech sector, anchored by established firms Hewlett-Packard and Micron Technology. These stalwarts have been joined by young, dynamic, and flexible companies such as Clearwater Analytics, MetaGeek, Balihoo, and CradlePoint.  As of July 2016, Boise has established Idaho as the number 2 ranked state in the country (behind Utah) for job growth in the tech sector. Technology, Construction, and Agriculture combine to give Boise an unemployment rate of just 3.5%.  Boise has been ranked as the #13 city in the nation for business and careers.  

 

Culturally, Boise delivers far beyond what you may expect for a metro area under 750,000 people.  The city is a regional hub for both Jazz and Theatre. The nearby Snake River Valley’s unique climate is ideal for wine grapes. Boise has a robust brewery scene, a vibrant downtown, and is home to several museums. 

 

Lifestyle, Employment, and Culture unite in a symbiotic relationship that has consistently pushed Boise to the top of the national rankings.  These factors, amongst others, make it a special opportunity to trade, invest, and develop real estate. 

 

Questions?
Should you, or anyone that you know, have any questions related to this post, please do not hesitate to reach out via phone, email, or text. I am passionate about helping others along their real estate journey.

– Nick Schlekeway