The economic size of Idaho is approximately $94 billion as of 2023, which is considered medium-sized among all U.S. states.
The main industries include agriculture, technology, manufacturing, and tourism, and thanks to this diverse industrial base, it is steadily growing.
In particular, it has recorded an average annual growth rate of over 3% in recent years, developing faster than the U.S. average.
The per capita personal income is about $53,300, which is somewhat lower than the U.S. average of $75,000. However, Idaho's relatively low cost of living positively impacts living conditions.
Especially in cities like Boise, economic activity is vibrant, and job opportunities and income levels are relatively high.
Idaho's traditional agricultural base, including potatoes, reliably supports the economy, while the technology and tourism industries are rapidly growing, adding vitality to the overall economy.
The average housing price in Idaho is approximately $453,050 as of 2024, which is slightly higher than the U.S. average housing price of $420,400. In recent years, Idaho has seen a steady increase in housing prices due to population influx and economic growth. Notably, from 2019 to 2024, Idaho's housing prices rose by about 74%, marking one of the highest increases in the U.S.
This upward trend is primarily driven by increased migration from neighboring states like California and improvements in living conditions in Idaho.
Idaho is expected to continue being recognized as a state with high economic growth potential.