In the aftermath of the migration boom following COVID-19, a closer look at Boise real estate reveals significant differences in market conditions across neighborhoods. Given that it was once the hottest market in the country, it is now essential to distinguish which areas have undergone corrections and which have remained stable.

North End is the oldest and most desirable residential area in Boise, with single-family home prices ranging from $550,000 to $750,000. Thanks to its tree-lined streets and accessibility to downtown, it has been noted for its relatively strong price resilience even during market corrections.

The Bench area, with prices between $380,000 and $480,000, is more accessible than North End and has maintained a stable price trend over the past year without significant fluctuations. There seems to be a steady demand for remodeled mid-sized homes.

The suburban areas of Meridian and Eagle have new construction homes, with prices ranging from $450,000 to $550,000 in Meridian and $600,000 to $800,000 in Eagle. Both areas experienced a surge in prices from 2021 to 2022, followed by corrections, and recent observations suggest a gradual upward trend.

• North End: $550,000–$750,000, excellent price resilience
• Bench: $380,000–$480,000, stable
• Meridian: $450,000–$550,000, gradual recovery
• Eagle: $600,000–$800,000, high proportion of new builds

From an investment perspective, the new development area west of Meridian is worth noting. With tech companies relocating and plans for new school districts, there is potential for an expanded long-term demand base. However, this area has a high concentration of new construction, which may lead to intense competition for listings in the short term.

In terms of rental yield, small homes near the Bench and downtown are relatively favorable. Considering the ratio of rental prices to sales prices, total rental yields appear to be around 5-6%, which is somewhat lower compared to the sharply increased sales prices during the pandemic.

Risks include the burden of price corrections following past surges and the potential for rental stagnation due to oversupply of new constructions. For Korean households, considering the educational environment for children and community accessibility, the border area between Bench and Meridian seems to be a balanced option for both living and investment.