Idaho’s gross state product (GSP) in 2019 reached $72.5billion, with growth of 3.4% over the 5-years to 2019. In Idaho, non-residential construction was $1.6 billion in 2019 which ranks it 11 out of all US states. Residential construction represented $3.2 billion in 2019 which places Idaho 2 in the United States.
Why invest in Idaho?
The state of Idaho has a population of 1,787,065 and annual population growth of 1.8% over the five years to 2019 which ranks 1 out of all 50 US states. Idaho’s gross state product (GSP) in 2019 reached $72.5billion, with growth of 3.4% over the 5-years to 2019. Idaho’s GSP growth ranks 7 out of all 50 US states. GSP is a measurement of a state’s output, or the sum of value added from all industries in the state. Businesses in Idaho employed a total of 24.2 million in 2018, with average annual employment growth of 2.6%.
Idaho Economic Overview
In Idaho, non-residential construction was $1.6 billion in 2019 which ranks it 11 out of all US states. Residential construction represented $3.2 billion in 2019 which places Idaho 2 in the United States. The number of building permits issued in Idaho in 2019 was 17,012 which represented a 14.1% growth over 2014-2019.
Successful real estate investment requires a delicate balance between the availability of opportunities (supply) and the desirability of the end development (demand). Boise, Idaho, and surrounding areas are therefore, uniquely poised as ideal locations for some of the nation’s best real estate markets.
Boise is a Growing Commercial Real Estate Market
- For the last few years, Forbes magazine has ranked Boise, Idaho, as one of the fastest growing cities in the United States. And that is because of the following unique achievements of Boise:
- The year 2020 began with a new record in price gains for Boise. The Boise housing market looked hotter than before with a supply hitting a two-year low.
- The extreme shortage of existing homes and increasing share of new home sales drove prices up.
- The Boise metro area is quickly growing with many urban advantages while maintaining close ties to nature and rural areas. There’s open land available for ground up, multi-family investment property developments along with an already expanding population to fill them.
- Every year Boise ranks on a slew of top 10 lists. The city has been placed among the best U.S. downtowns, the best city to raise a family, the healthiest, best place to retire, best place to be a doctor, a good spot for yogis and asthmatics, and yes — Boise was even ranked among the top sexually active cities.
- With large employers like Amazon in the Treasure Valley, along with some of the state’s largest employers already being Boise-based job growth can sustain the population growth we rely on to support our syndication investments.
- According to the Wall Street Journal, Boise is getting a lot of attention for their housing market, not just locally but nationally.
- Idaho is a business-friendly state regarding taxes. Another way Idaho can sustain job growth is its attractive climate for small and large business expansion. Regulations are minimal, therefore also creating an environment where perfectly legal tax shelter investments are free to grow.
Boise and Idaho are uniquely poised to drive this new growth story, and Vertical Equity could be your ideal investment partner in this journey. Come, and be a part of this excitement.
Current Multi Family Projects
Address: 1017 S Elder St Nampa, Idaho 83686
Address: 745 West Ustick Rd Meridian Idaho 83646
Current Industrial Projects
Address: 1250 E Kalispell Meridian Id 83646
Upcoming Industrial Projects
Address: 2198 E Franklin Rd, Meridian Id 83642