Idaho population growth spurs seller’s market

IDAHO FALLS, Idaho (KIFI/KIDK) - A job-seeker website, Zippia.com, says its analysis of US Census statistics indicate Idaho is the second-fastest growing state in the U.S. and that is creating a seller's housing market.

It found Idaho's population grew by 37,265 people from 2017 to 2018. That is an increase of 2.12% compared to Arizona, the fastest growing state, at 2.17%. The website also discovered that most of those moving to Idaho are relocating from California, Washington, Utah, Oregon and Arizona. The third fastest growing state is Utah, with 1.88% growth over the same time frame.

It also found that the main reason Idaho is attracting people is because of low housing costs, which is creating a seller's market across the state.

Zillow, an online real estate database company, says the median home value in Idaho is $289,989 while the median price of a home is $334,895. Home values have risen by 9.4% over the past year and Zillow predicts they will rise by 5.5% within the next year.

In comparison, a median home value in Idaho Falls is $236, 574 and the median price of homes currently listed is $245,000. Idaho Falls home values have gone up 12.6% over the past year and Zillow is predicting they will rise 5.7% within the next year.

Homes are not spending a lot of time on the market. The average time on the market is 67 days.

In the Pocatello area, home values have gone up 9.5% in the same time and Zillow predicts a 4.5% increase in the next year. Median home value is $182,249 and the median list price is $193,700. Rexburg is one of the fastest growing communities in Idaho. Median home value is $245,193 and median market price is $282,000.

You can find more specific information on the Zillow website.