When explaining the massive growth and influx of businesses and residents, the Boise Valley Economic Partnership explained “Our quality of life will blow you away. Our incredible quality of life has attracted a thriving mix of high tech, agribusiness, and manufacturing businesses along with a young, educated workforce to serve them.”
USA Today #1 Best Place To Live Meridian, Idaho.
In 2016 Idaho was #1 in the nation for job growth, some of the companies leading the way in the Boise Valley are HP, Micron Technology, T-Mobile, WhiteCloud Analytics, Balihoo, Inovus Solar, J.R. Simplot, PowerBar, Meadow Gold, & Scentsy.
It is easy to see why young professionals, families, and retirees alike are attracted to the valley. With notably less traffic and lower commute times (18-minute average), but opportunities with national leading businesses like HP & Micron young business professionals enjoy spending less time on the road on their daily commutes while still being able to advance their careers working for industry-leading employers.
Senior residents flowing in from neighboring states enjoy the lower cost of living and access to advanced health care which is a growing industry in the Boise Valley (New Medical School Being Built in Meridian). Families and those with children enjoy a growing and desirable school system. Big city amenities while maintaining a friendly small-town feel have been integral in attracting businesses and residents from neighboring states.
The Boise Valley has one hurdle they are still working on, the housing shortage due to the population boom. With the vacancy rate consistently hovering around 2%, and the population continuing to grow there is a need for new multifamily investment properties to be built. At the same time, with 7% fewer Millennials interested in buying a home, the housing shortage has been compounded.
Expanding demand and market have been growing for years and the need for larger multifamily rental units that are spacious enough for a family of 3+ but still more affordable than a single-family home. Enter rental townhomes. Just a few builders have caught on to this trend in the Boise Valley, while other markets like California, Utah, Texas, & Arizona have transitioned to building just as many or more multi-unit as single-family home developments.
Boise Valley will continue to grow and continue to be a fantastic place to live. With plenty of room to grow both in the business sector as well as space for more housing communities, expect to continue to see Boise at the top of the list for population increases and job growth.