What is the cost of living in Idaho?
If you love being embraced by nature’s beauty, you will love living in Idaho. Home to majestic mountains and soothing scenes of glacial lakes, it’s a state for skiing enthusiasts and hikers. Tourists enjoy visiting Idaho Falls, Yellowstone National Park, Sun Valley, Snake River, and much, much more.
Moving to a place surrounded by such beauty is a sweet temptation, but what is the cost of living in Idaho? Is it reasonable?
If Idaho sounds like the state for you, we can tell you how much it costs to live there. Let’s get to it!
Is Idaho Expensive to Live in?
If you want to know if the cost of living in Idaho is expensive, the answer is that it is in the middle. Literally, in the middle. MERIC released data in the third quarter of 2021 that Idaho is the state with the 25th lowest cost of living.
The Bureau of Economic Analysis published data in 2020 that, for total personal consumption, a person can expect to spend around $35,459 while living in Idaho. It breaks down like this:
- Housing and Utilities – $6,910
- Healthcare – 6,169
- Food and Beverage (not from restaurants) $3,243
- Gas and Energy – $941
- All Additional Personal Expenses – $18,197
The average monthly expenses amount to roughly $2,955 for a resident of Idaho.
Real Estate in Idaho
No matter what state you choose to live in, housing is typically your biggest expense. According to Zillow in late 2021, the average home in Idaho has a value of $446,000. The median mortgage cost per month is $1,270. If you are looking to sell a house in Boise, check out ibuyhousesboise.com.
Renting in Idaho has a median gross monthly cost of $880. A studio in Idaho can average $625 in monthly rent whereas four-bedroom rental averages $1,309 monthly. The exact costs depend on what city in Idaho you are looking at.
Pros of Living in Idaho
Idaho has an amazing history dating back to the Nez Perce and Shoshone tribes who lived there for thousands of years. European colonists settled there later, finding the remote location to be challenging geography initially. Many people eventually migrated there because gold was discovered.
Why live in Idaho today? Just about anyone can land a job in Idaho. There is a significant amount of work in Idaho, ranging from agriculture, government, and healthcare.
It is also a safe place to live, probably because of all the open spaces. Cities in Idaho that are more urban, like Boise and Twin Falls, have a lower crime rate. They invest in their law enforcement community.
The cities in Idaho make strides to keep themselves clean and organized. You won’t find a lot of trash and litter in the cities. The people there take pride in the property.
Plus, the people in Idaho are friendly. Even though it is a state that is pretty spread out, you find someone around to help you, if you need it.
Finally, you can’t forget about the beautiful nature that surrounds you either, or that the outdoor activities are limitless.
Cost of Living in Idaho
Now that you know more about the cost of living in Idaho, it is something to consider, especially if you are looking to relocate soon. For all things, real estate and lifestyle, visit us again soon. Until next time, enjoy nature!