Introduce
Boise, Idaho, is not only known for its picturesque landscapes and outdoor activities but has also emerged as a thriving short-term rental market. In this blog post, we will delve into the Airbnb and short-term rental scene in Boise, ID, uncovering key statistics and insights that will help both hosts and travelers make informed decisions.
Market Overview
Real Estate Trends
To understand the dynamics of the short-term rental market in Boise, it’s essential to first look at the real estate landscape. According to Zillow, homes in Boise experienced a slight depreciation of 1.80% recently, with a median home value of $473,115. These figures provide valuable context for potential investors looking to enter the market.
Short-term Rental Statistics
Chalet, a platform that analyzes Airbnb and short-term rental data, reports that there are currently 1,239 active short-term rentals in Boise. These properties command an average daily rate of $164.20, resulting in an impressive 60% occupancy rate. The annual revenue for short-term rentals in Boise averages around $28,000, showcasing the potential for profitability in this market. Additionally, the average gross yield is a healthy 5.92%, making it an attractive option for investors.
Property Taxes
Understanding the financial aspects of short-term rentals is crucial. In Boise, the average property tax stands at 0.88%, which is an important factor to consider when calculating potential expenses and returns.
