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Increasing housing prices and the future of Boise's affordability

We speak with officials at Jesse Tree about the rise of home prices and the affordability of Boise
Posted at 8:03 PM, Jun 12, 2023
and last updated 2023-06-12 23:43:36-04

BOISE, Idaho — If you take a look at the Boise skyline, you'll see the Capitol, the beautiful foothills, and you'll also see some cranes signifying construction.

Although there might be new homes being built that also means new prices and after speaking with officials at Jesse Tree, they say rent has gone up 40 percent in the past two years since 2020.

"A property that I rented in 2012 just ten years ago for 325 dollars a month is now renting 1200 a month so in just ten years rent has become completely unaffordable,” says community engagement manager for Jesse Tree, Katie McInally.

Jesse Tree is an organization that helps those in need of rental assistance and Kate McInally says in the past year they've helped more than 1,000 families from being evicted

“I spoke to a family last week who is renting a one-bedroom apartment for a 6-member family and that is all too common right now because people just don't have the affordable rentals available,” McInally says.

McInally says many of those receiving assistance are from the Treasure Valley Area, but with rising prices and stagnant wages, many are living paycheck to paycheck just to afford a place to live.

McInally says, “The Department of Housing and Urban Development defines affordable housing as 30 percent of your income. Most of the folks that we're seeing are spending 50-60 percent of their income because those wages aren't keeping up.”

Boise is growing each and every day, and it's leaving residents who live here now to wonder if they'll ever see affordable housing in the city.

For more information on how Jesse Tree Idaho impacts the Treasure Valley, visit their website: www.jessetreeidaho.org