Estimated Monthly Payment — Median Idaho Home
$2,760
Based on $420,000 home · 20% down · 6.7% APR · 30-year fixed · taxes & insurance included
Median Price
$420,000
Property Tax
0.69%
Avg. HOA
$175/mo
Median Rent
$1,300/mo
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Estimate only. Not a loan offer, approval, pre-approval, or financial advice. Actual payments and terms may vary. Consult a licensed mortgage professional before making real estate decisions.
Market Insights
About the Idaho housing market
Idaho's housing market is moderately priced for the region, with a median home price around $420,000. Boise is the largest metro, with Meridian a close second. Idaho — and Boise especially — saw some of the fastest home price growth in the nation during 2020-2022 with the influx of remote workers, though prices have moderated. Idaho's effective property tax rate of 0.69% is below the national average.
The median Idaho home costs $420,000. At today's average 30-year fixed rate (6.7%) with 20% down, principal & interest works out to roughly $2,168, and the total monthly payment including taxes, insurance, and average HOA comes to approximately $2,760. First-time buyers in Idaho can explore programs through Idaho HFA.
Photo by Khay Edwards on Unsplash
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FAQ
Idaho mortgage FAQs
What's the property tax rate in Idaho?
Idaho's effective property tax rate averages about 0.69% — below the national average. On a $420,000 home, that's roughly $242/month or $2,898/year.
How much do I need to earn to afford a typical Idaho home?
Using the 28/36 rule, a buyer would need roughly $103,000–$132,000 in gross annual income to comfortably afford Idaho's $420,000 median home with 20% down at current rates.
What first-time buyer programs are available in Idaho?
Idaho Housing offers the Idaho Housing First Loan with up to 7% down payment assistance and the Good Credit Rewards program for buyers with strong credit. Eligibility typically requires being a first-time buyer with income within program limits and completing homebuyer education.
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