Profitable investments may be found in multifamily apartment complexes. Whether an investor wants to purchase a five-unit income producing property or a complex with 20 apartment buildings, lucrative opportunities exist in Boise, Idaho. Direct Apartment Lenders explores the Boise multifamily apartment market to highlight some of the investment benefits.

Strong Rental History in Boise

Apartment investors are largely driven by passive income opportunities. When an investor locates a property for sale that resembles a needle in a haystack, a lightning fast offer might be made.

Experienced investors are aware that exceptional apartment buildings will typically sell very quickly. 

Apartment buildings that reflect a strong rental history are desirable, as investors enjoy properties that produce consistent streams of income.

The Boise multifamily apartment market has recently displayed a remarkably strong rental performance.  

Multifamily Apartment Rents in Boise, Idaho 

On a national basis, Boise was the top ranked market for rental growth, which reached an astronomical level of 20 percent year-over-year, as of June 2021. This data from RentCafe’s Rental Market Trends also indicates that the average apartment size in Boise is 881 square feet and the average apartment rental rate is $1,481 as of June 2021.

Boise also ranked #3 among the top 30 rental markets within the U.S., according to first quarter data in 2021 from RentCafe. Also mentioned in the rankings, apartments in Boise were vacant an average of 30 days in the first quarter and apartments were occupied 97 percent of the time for the same period. 

By comparison, RentCafe reported that U.S. apartments were vacant 39 days on a national level during the first quarter of 2021.

Rental properties are occupied by 43 percent of the households in Boise City, Idaho.

Census Bureau Data for Boise 

Boise City, Idaho had a population of 228,959 as of July 1, 2019, according to the U.S. Census Bureau. This was an increase of 9.3 percent above the population of 205,671 in April of 2010.

The Census Bureau also reported that Boise’s median household income was $60,035 in 2019. 

Millennials are Moving to Boise, Idaho 

Escalating home prices and rental rates in California and New York has caused some residents to venture out to less expensive areas of the country.

Whether working from home or at a local office in Boise, millennials are enjoying a quality of life that requires fewer hours at work and less time commuting.

The additional time enables millennials to collect more precious moments with family members and friends during the week, as well as the weekend    

Living in Boise 

In recent years, Boise has added microbreweries, restaurants and coffee shops throughout the downtown area. 

Boise has an abundance of family activities, such as Zoo Boise, the Discovery Center of Idaho, Roaring Springs Water Park and the Boise River Greenbelt. 

With annual temperatures that are fairly mild, residents can enjoy outdoor activities throughout the year.

Hiking, mountain biking, running, kayaking, fishing, skiing and paddle boarding are some of the outdoor activities that residents enjoy in Boise.

Local concerts feature various country performers, jazz bands and other genres at outdoor festivals, concerts and venues. 

Idaho is known for its potatoes, but Boise has cuisine for a variety of cultural interests. Restaurants in downtown Boise and the surrounding areas are serving all sorts of potato dishes, pizza, burgers, seafood and steak.

Sports fans who live in Boise can cheer for the Boise State University Broncos or the Boise Hawks baseball team.

Boise has a myriad of things to do for individuals and for families, which enhances the quality of life for its residents.

This should be great news for investors who are considering opportunities in the Boise multifamily apartment market.

Get a Commercial Mortgage Loan to Buy an Apartment in Boise, ID 

Investors who are searching for funding to cover the cost of a Boise apartment building can Get a Quote for a commercial mortgage loan online.

To obtain consideration for an income-producing property, an underwriter will request a variety of documents for an apartment loan.

Information about the subject property, such as its precise location, sales price, number of units, photos, overall condition and rent rolls are some of the initial items that should be submitted with a borrower-completed loan application.

Thereafter, an underwriter will require more documents prior to funding, such as title work for the property, an appraisal and certain inspections.

Boise has many apartment investing opportunities.

Working with a reputable lender to secure financing for an apartment building can avoid costly delays.  

Direct Apartment Lenders offers apartment loans throughout the United States.

Our mortgage terms and our programs are highly competitive.

For time sensitive purchases, we can typically provide funding within a month.

Speaking to a commercial mortgage professional about an apartment loan in Boise, Idaho is the best way to learn about our financing process.

Contact Direct Apartment Lenders today about buying or refinancing an apartment building in Boise or in other cities within the United States.