If you’re considering buying or building a home in Treasure Valley, you’re not alone. The naturally beautiful area, which encompasses southwest Idaho and parts of southeast Oregon, is in the midst of a period of rapid growth. People from across the Pacific Northwest—and throughout the country—are growing more familiar with the name Treasure Valley as the area garners more attention than ever before.
But is Treasure Valley right for you? As you look to upgrade to your next home, consider these key FAQs about the area:
What is the housing market like in Treasure Valley?
As this recent KTVB report explains, Treasure Valley is booming. Ada and Canyon counties alone have grown by more than 26,000 people in the last year. The majority of the new residents are coming from California, Washington, Utah, and further afield in Oregon. Meridian, at the center of Treasure Valley, has experienced the largest increase in residents, followed closely by Nampa.
This influx of new residents is causing existing home prices to rise, since inventory is low. For pre-built homes, Treasure Valley is definitely a seller’s market, and homes sell extremely quickly. Many buyers are putting in offers on two or three homes before finally being accepted.
It can be especially challenging finding a smaller, more affordable pre-built home in Treasure Valley. The KTVB report found that homes in the $200,000 to $250,000 range in certain counties are nearly “non-existent.” For those shopping for a pre-built home, Realtors are recommending customers don’t get their hearts too set on one particular house, because chances are high they won’t get it.
Why is Treasure Valley experiencing such a boom?
Because it offers something for everyone! It has beautiful scenery and is surrounded by sprawling national forests. The cities and towns are packed with delicious restaurants and a fast-growing list of breweries and wineries. The people are friendly, and the pace of life is comfortable.
Plus, the area is good for business. Boise, the largest city in Treasure Valley, was recently ranked by Forbes as one of the best cities in the U.S. for young professionals, second only to Salt Lake City. Forbes pointed to the area’s strong job growth projections (estimated at an annual rate of 1.87 percent), a high median salary, a low median rent price, strong employment prospects, and a large population of people in their 20s.
How are the schools in Treasure Valley?
Treasure Valley has many highly acclaimed K-12 schools and offers incredible secondary education opportunities. Several have been highly ranked by U.S.News & World Report, including Boise State University and Idaho’s top high school, Timberline High School in Boise.
Boise, Meridian, Adrian, and other nearby school districts score high in the GreatSchools national rating system, with a low student-to-teacher ratio and solid test scores. Some area schools are notably lower on the scale, but that’s changing quickly. Due to all the recent growth throughout Treasure Valley, the demand for new schools and highly skilled teachers is high. In the coming years, you can expect area schools to continue to trend upward on the national rankings.
What is the job market like?
The job market in Treasure Valley is strong and growing steadily, with a wide variety of job opportunities available. Once again, Boise is leading the charge, ranking 13th on Forbes’ list of the best cities for business. Boise and its suburbs boast a fast-growing technology sector that is beginning to draw people from across the country. In fact, there are at least six virtual reality startups in the area, and all of them are hungry for highly skilled employees, the Idaho Statesman reports.
But Treasure Valley isn’t all about technology. Throughout the area, large employers offer a variety of opportunities. Healthcare is booming, with St. Luke’s Regional Medical Centers employing more than 7,500 people in the area. Meanwhile, local school districts, government agencies, and banking firms provide countless opportunities throughout Treasure Valley.
Large universities, such as Boise State and the University of Idaho, also rank among the top employers in the area, while national retailers like Walmart and Albertsons lead in terms of part-time and blue-collar jobs.
In such a hot housing market, how can I ensure I find the home I want?
As we saw above, Treasure Valley is a seller’s market when it comes to pre-built homes. It can be challenging to find the home you want without paying over the asking price.
For many homebuyers in the Treasure Valley area, a custom home is the perfect solution. The custom homebuilding route allows you to select your own piece of land—or build on property that you already own—anywhere in the valley. Then, you get to customize the floorplan, features, and high-quality finishes that best suit your style and the way you live.
A custom home allows you to create the home of your dreams, without the stress of competing in Treasure Valley’s hectic pre-built home market. It’s the best way to ensure you and your family find the home you want in this beautiful and fast-growing area.
Interested in learning more about the custom homebuilding process? Explore Adair Homes’ Path to Homeownership guide.