Idaho Home Prices Soar Past Wages, Time To Hit The Panic Button?

Home prices have been a big part of the conversation surrounding Idaho for years. USAFacts shared a fascinating report. Overall, "the cost of homes in the United States has outpaced wage growth over the past decade. It found that while home prices rose 74% from 2010 to 2022, the average wage rose only 54% during the same time."

They also listed the bottom ten states where home prices surged past average wage increases.

According to USAFacts, "Since 1990, wages and home prices have followed fairly closely though home prices have since outstripped pay in states like Colorado and Oregon." As of recently, home prices outpaced wages, "they accelerated faster than wages during the pandemic in nearly every county in the United States."

The report details each county in Idaho. Boise saw an 84% difference. But what's the difference when it comes to the entire state? Keep scrolling, and you can see how bad it is.

USAFacts also shared, "In most of the western US and almost every predominantly urban county, a single average earner couldn't afford to buy a median-priced home in their county in 2022. One in nine Americans lives in a county where two average earners could not afford the median home."

Only some states have the issue of median home prices soaring by the increases in wages. As a result, these states' wages are outpacing the median home prices.

Illinois: