A note to our readers…
New Two-Phase Market Report Release Starting June 2025
To get you timely data and meaningful insights, BRR is introducing a new two-phase approach to our monthly Market Report releases:
- Phase 1: Snapshots & Graphs — Available earlier (typically between the 8th and 12th of each month), this first release includes high-level graphs and market snapshots. They’re ready for you to share in your newsletters, social media, or client conversations as soon as they drop.
- Phase 2: Market Stat Sheets — By the 16th of each month, we’ll follow up with the full Market Stat Sheets. This is where we dig deeper into the trends, provide key takeaways, and offer a broader interpretation of the data.
This two-phase release schedule is designed to get you what you need, when you need it: a quick look early on and a full picture shortly after.
In a split decision, the Federal Reserve left its key policy rate unchanged at a range of 4.25% to 4.5%. This rate has remained within this range since December 2024. The national average for mortgage interest rates was 6.74% as of July 24th. Mortgage rates have remained stuck above 6.6% in the U.S. since the beginning of the year, contributing to bad affordability conditions for homebuyers nationally.
It is still the expectation that the Federal Reserve will cut interest rates in the near future, but less clear how this would impact mortgage rates. The Fed doesn’t set mortgage rates, which instead track long-term bond yields. Bond markets would have to view a central bank rate cut as credible and justified to move the needle for mortgage rates.
Source: https://www.realtor.com/news/trends/fed-rate-cut-decision-announcement-july-2025/
Inflation held stead in July, defying predictions of tariff-driven price hikes and increasing the odds of a Federal Reserve rate cut next month. Overall prices rose 2.7% in July when compared to a year earlier, the same annual increase that was seen in June according to the US Labor Department’s Consumer Price Index (CPI).
Source: https://www.realtor.com/news/real-estate-news/cpi-inflation-july-2025-fed-mortgage/
The typical American still does not earn enough to keep up with monthly mortgage payments. The degree of unaffordability varies widely across states and has overall edged down compared to the end of last year.
Nationally, the typical U.S. household earned roughly 48% less than what’s recommended to afford a $439,950 home, which is the national median list price for July. The generally accepted “30% rule” suggests that a household should not spend more than 30% of its gross monthly income on housing costs, which include mortgage payments, property taxes, and insurance.
An analysis of July data from all 50 states shows that the minimum recommended income to afford a median-priced home exceeds the state-level median income by anywhere from just under 0.6% to 138%.
Idaho is currently ranked #6 in the nation for housing affordability. The median home list price in July across Idaho was $599,450 compared to a statewide median income of $77,609. This makes the recommended income to purchase a home at the currently median sales price 103.59% of the actual median income in the state.
Source: https://www.realtor.com/news/trends/map-earn-income-home-purchase-every-state/
Idaho Payments in Lieu of Taxes (PILT) for 2025 were paid in the amount of $42,973,738, an increase of 4.4% from 2024. The payments are made by the federal government to compensate for the inability to collect property taxes on federally owned acres. This helps local governments and districts including fire, schools, roads, and search-and-rescue operations. The top three counties in Southwestern Idaho for federal acres include Owyhee County, Valley County, and Elmore County.
Owyhee County has its leased grazing acres, wilderness areas, and Bureau of Land Management acres that include the Owyhee Canyonlands Wilderness and Wild & Scenic River segments. Whereas, Elmore County has the Mountain Home Air Force Base and bombing range that overlap contiguous counties and forested areas.
Source: Idaho Capital Sun
Another subdivision in Western Meridian is approved allowing for a 270-home subdivision on 70 acres. The subdivision is named Adero and will include single-family homes, 44 commercial lots, and four office lots. There is conflict between an existing subdivision as they lose their park to the new Acero development.
Source: Idaho Statesman
The Boise School district will be short $1.5 million and the Emmett School District reported it will be $406,000 short for its 2025-2026 school year budget. Both of these shortfalls are due to funds being held at the federal level by the U.S. Congress. These shortfalls may impact the ability to hire additional staff or provide learning opportunities for staff development.
Source: KTVB News
Lamb Weston announced it would be laying off 4% of its 10,000 global work force. The company is still in the process of working through the details regarding how many Idaho workers will be impacted by a reduction in the workforce. The company has French fry plants in both Twin Falls and American Falls with its corporate headquarters in Eagle.
Source: Idaho Statesman
Caldwell’s city council moved to declare a swath of the city as in need of urban renewal. This declaration is the first step toward establishing an urban renewal agency, which would be eligible for tax increment financing toward improvement of areas in need. The region highlighted is located between the interstate and the railroad tracks north of downtown and extending between the river and the First Assembly of God from east to west.
Projects that could be completed through the tax increment financing include improvements to dilapidated sidewalks and streets, the relocation of utility infrastructure, and the introduction and replacement of street lighting.
The council also voted in favor of two new housing developments on Ustick Road. The Copper Pointe Subdivision, which will be located on the southeast corner of Ustick and Florida Avenue, west of Cleveland Boulevard. This development will include 128 residential units-12 triplexes, five fourplexes, and 12 sixplexes. The other complex will consist of 35 apartments, most of which will be designated as low-income. This development will be located a half-mile away at Ustick and Lake.
Source: KTVB News
Other Real Estate News
- Realtor.com | Home Sales May Fall to New 30-Year Low in 2025 as Mortgage Rates Remain Elevated
- Bankrate | Existing-Home Prices Smash Record, While Sales Retreat
- Forbes | Housing Market Predictions For 2025: When Will Home Prices Drop?
- RisMedia | Total Canadian Lumber Tariffs Raised to More Than 25%
Please note: Some news outlets may protect their content with paid subscriptions. While we try to refrain from sharing articles that may not be accessible to everyone, we may share them if important to the industry.
Additional information about trends within the Boise Region, by existing and new construction, are now available here: Ada County, Elmore County, Gem County, Four Rivers Region (coming soon), and Condos, Townhouses, and Mobile/Manufactured Homes Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.
Ada County
Canyon County
Elmore County
Gem County
Condos…
Download the latest (print quality) market snapshot graphics for Ada County, Ada County Existing/Resale, Ada County New Construction, Boise County, Elmore County, Gem County, Malheur County, Payette County, and Washington County.
Since Canyon County is not part of BRR’s jurisdiction, we don’t publicly report on Canyon County market trends. Members can access Canyon County snapshots and reports in the Market Report email, or login to our Market Statistics page. Our Owyhee County snapshot can also be accessed on our Market Statistics page.
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The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS, Boise Regional REALTORS®, and Idaho Policy Institute provide these statistics for purposes of general market analysis but make no representations as to past or future performance. If you have questions about this report, please contact BRR’s Director of Growth & Strategic Communications Taylor Gray at 208-947-7238. For notes on data sources, methodology, and explanation of metrics, visit boirealtors.com/notes-on-data-sources-and-methodology.
If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.
Boise Regional REALTORS® (BRR), a 501(c)(6) trade association, represents real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.
“REALTOR®” is a federally registered collective membership mark which identifies a real estate professional who is member of the National Association of REALTORS® (NAR) and subscribes to its strict Code of Ethics.
Great article! Very informative and well-written—thanks for sharing.