Boise Multifamily Figures Q1 2025

Market Overview

Boise’s multifamily market softened in Q1 2025, with rent growth turning negative and vacancy climbing to 7.5%, reflecting a cooling trend after years of strong performance. Developers are responding by slowing starts, especially in the West Boise and Meridian submarkets, where supply has outpaced demand. Despite short-term softness, Boise’s growing tech sector, expanding health services industry, and strong in-migration continue to support long-term fundamentals. Job creation and affordability relative to coastal cities remain major demand drivers.

About CBRE

CBRE is the world’s largest commercial real estate services firm, operating in over 100 countries with a workforce exceeding 115,000. In Boise, CBRE’s multifamily research and advisory services provide a granular view of rental trends, cap rates, and development pipelines. Their quarterly market snapshots distill local data into practical insights for investors and operators, helping to contextualize shifts in leasing velocity, absorption, and asset pricing against broader economic currents.