Boise, ID Multifamily Market Report | CBRE | Q4 2025

Market Overview

Boise's multifamily market held steady in Q4 2025 with occupancy at 94.3% and average rents flat at $1,637 per unit, as pricing momentum paused following a period of post-delivery adjustment. Net absorption turned slightly negative for the quarter, though the report notes the shift appears isolated rather than indicative of a broader demand softening. With only 597 units remaining under construction, the pipeline has thinned considerably, a dynamic supported by elevated construction costs constraining new starts. Long-term, Micron's $15 billion semiconductor fabrication facility, projected to generate more than 15,000 new jobs, positions Boise for sustained housing demand well beyond the current cycle.

About CBRE

CBRE is a global commercial real estate services and investment firm operating across major U.S. and international markets. Their Q4 2025 Boise multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity to help owners, developers, and investors evaluate market conditions and timing. To read the full report, click here.