Idaho: Don’t Worry About This Generation, They’re Moving to Utah

The housing market is currently grappling with soaring home prices, a scarcity of available properties, and climbing mortgage rates. High demand, fueled by low interest rates and pandemic-driven relocations, has skyrocketed prices, making homes less affordable for many buyers. Simultaneously, low inventory levels amplify competition, while rising mortgage rates add financial strain. This confluence of issues has created a daunting environment for prospective homebuyers, limiting their options and increasing the cost of homeownership.

According to Businessinsider.com, that hasn't slowed down Gen Z from buying homes. Zillow's annual Consumer Housing Trend Report surveyed 11,800 people, and around 18% of homebuyers in the U.S. were part of Gen Z, those aged between 18 and 28. 

Where are Gen Z's purchasing homes? 

Business Insider shared, "Hotspots for these young homeseekers are no longer coastal metropolises." For many Idahoans who are worried about more people moving to Idaho, they shouldn't be. Gen Z, who bring energy and fresh perspectives and could continue to boost the economy, aren't moving to Idaho. 

On the list of Business Insiders, "The 21 Cities Where Gen Z Homebuyers are Moving" doesn't include anywhere in Idaho but does include Utah. Gen Z is increasingly drawn to purchasing homes in Utah due to several key factors. The state offers affordable real estate options compared to neighboring areas, making homeownership more accessible for this generation. Additionally, Utah's robust job market, especially in the tech sector, provides attractive career opportunities. 

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Why aren't Gen Z's moving to Boise? 

According to Redfin, the median sale price in Boise right now is $477,000. That is cheaper than where Gen Z's are moving to Utah, and according to Zip Recruiter, the average annual salary in Boise is $63,213, and that's close to more than $10k to where they're moving to.