Everybody desires a residence that is not only affordable, but also comfortable, and Idaho does a very good job of combining the two. Before deciding to make Idaho their permanent home, many families visit the state and discover how much they adore its beaches, plains, and mountains.
However, before you make a final decision to move, you need to conduct some research into the precise cost of housing all around the state.
So here are the most expensive cities in Idaho.
1. Sandpoint($482,600)
Location of the popular ski resort of Schweitzer, Sandpoint is situated on the shores of Lake Pend Oreille in North Idaho. It is ranked as the most expensive place to live in this year.
Here, the average household makes $64,544 per year. The median price of a home in this country is $282,600, while the median rent is $915 per month. If you are looking for a location to settle down, these numbers might be helpful.
2. Hayden($400,000)
With a population of 15,049, in Hayden, the average household there makes $73,182 per year. The median value of a home in is $610,000, and the usual rent for a one-bedroom apartment is $1,475 per month.
3. Rexburg
The location of BYU-Idaho, which was recognized as the ninth-best college town in the United States, was also the second most costly city in the state of Idaho to call home in 2021.
The average household there makes $46,244 per year. When it comes to locating a house to call your own, the median value of a home is more than $211 thousand, and the median rent is 765 dollars per month.
You might also want to know about the most expensive homes in Idaho.
4. Coeur d’Alene($376,600)
The luxury mansions that surround Lake Coeur d’Alene are known for exuding elegance, so the fact that Coeur d’Alene is one of the most expensive cities in Idaho does not come as a surprise to us at all.
Here, the average salary is $61,531 per year. The median value of a home in this country is $376.5K, and the average rent for a one-bedroom apartment is $1750 per month.
5. Moscow($340,500)
Moscow, which is located in Ada County and is home to the University of Idaho, is the fifth most expensive place to live in the state of Idaho. The average household there makes $58,565 per year. When it comes to settling down in a new place, the median value of a home is $540,500, while the median rent is $722 per month.
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6. Eagle($355,800)
The metro region of Eagle is quite large, and the average price of a home to purchase there is approximately $355,800.
Long commutes are typical, and residents may expect to pay an additional dollar per gallon on average for gas, which contributes to the higher cost of living in Idaho compared to the average cost of living in the rest of the country. The median income in Eagle, which is approximately $91,414, contributes to the city’s already high cost of living.
7. Hailey($308,400)
It should not come as a surprise that Hailey entered the list given that many celebrities with prominent profiles are drawn to this area. There, the median salary is $54,622 per year. The median value of a home in this country is $308,400, and the median rent is $726 per month.
8. Star($306,000)
Star is rapidly becoming more populated and also one of the most expensive areas to live in the state of Idaho. There, the median salary is $71,759 per year. The median price of a property in the Star is $306,000, and the median rent is $891 per month.
9. Meridian($304,500)
The city of Meridian may be found in Ada County, inside the state of Idaho, in the United States. Meridian has a population of 107,787 as of the census taken in 2022, making it the second-largest city in the state of Idaho behind Boise.
Meridian is recognized as the city with the quickest rate of growth in the state, and it is also one of the most expensive cities in the state since the average price of a home there is $304,500.
10. Boise($282,900)
The city of Boise, which is situated in the region of northern Idaho, is home to an estimated population of 228,057 people. Boise is one of the most expensive cities in North Idaho since the average cost of a home there is $282,900, making it one of the most expensive cities in the state. With a typical family income of $63,778 and an overall cost of living, it ranked 9th in this list.
11. Post Falls($246,400)
In 2021, Post Falls ranked as the ninth most expensive place to live in the state of Idaho. There, the average household income is $63,387. The median value of a home in this country is $246,400, while the median rent for one-bedroom apartments is $1,165 per month.
12. Garden City($240,200)
This one is a bit unexpected! Garden City made up this list as a result of a confluence of factors, including its home price to income ratio as well as its income to rent ratio. The average household there makes $71,494 per year. The median value of a home in this country is $240,200, and the average rent for a one-bedroom apartment is $1,400 per month.
13. Rathdrum($233,800)
Rathdrum, which is located in nearby Hayden, is also one of the most expensive places to reside in the state of Idaho this year. There, the median salary is $64,167 per year. The median value of a home in this country is $233,800, while the median rent is $1,082 per month.
These are the most expensive cities in Idaho, as determined by the median home price relative to the average household income. This ranking is based on a comparison of the median salary to the cost of housing in each city, which provides a good indication of the relative affordability of each location.