Suddenly, Nobody Wants to Live in Idaho

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I guess they got the message when you keyed their cars!

COVID and what appears to be a recession are likely culprits.  A website called Move Buddha shows people moving to Idaho from other states are starting to lose momentum.  The site tracks data from companies that rent moving trucks.  Arrivals have been running at more than three to one of the departures, but the site now claims the difference is no more than a couple of dozen newcomers for every 100 people leaving.  You can read more by clicking here.

Per capita, Coeur d’Alene is the most popular destination for incoming moves.  Californians remain the greatest imports.

The slowdown has had an impact on housing costs.  Homes and apartments are staying on the market longer and bidding wars are subsiding.  Some predict the housing market could be in for a major correction, with a drop in asking prices by as much as one-third by the time we reach early autumn of 2023.

The slowing growth rate is most pronounced in Eagle and Boise.  Twin Falls has seen only a slight drop-off.  Rexburg and Caldwell are seeing negative growth.  I’m not surprised by Caldwell.  My former pastor moved there and told me he could hear gunshots not far from his new church.  Rexburg’s story is far different.  It’s a college town, and the so-called pandemic may have had some students doing coursework from a distance and closer to their hometowns.

People who are still making the move to Idaho like the lack of business regulations, the many string institutions, and, of course, the varied and natural beauty of the state.