When looking for investment properties, Idaho is as good as it gets. Many people think that this state is just full of empty space, wilderness and farmland, of which is does have plenty, but this state, which is technically considered part of the Pacific Northwest, has a lot more to offer than bears and trees. Idaho is a great state in part because it has abundant natural resources. There aren’t many worries about drought with so many thriving there. The other great thing about Idaho’s climate is that since the state is so large and has varied terrain, you can find a lot of different weather patterns. Some live up in the snowy mountains where winters are rough and beautiful, and others choose to live in the western part of the state which has a similarly mild climate to Oregon or Washington.
The vibrant population of Idaho is growing at a rapid rate of approximately 5% over the past 5 years. This means that there will be plenty of people to live and work at any investment property you choose to go in on. This growth is fueled by a thriving economy that has many different industries contributing to it. The state has a lot of agriculture, cultivating ⅓ of the nation’s potatoes. They also have the largest processed cheese facility in the country, and three facilities operated by Anheuser-Busch. In the past, industry has been more important, but nowadays it is technology that is seeing big growth in Idaho.
The state capitol of Boise is home to Micron Technology, an important manufacturer of computer chips. In fact, about 25% of the state’s revenue comes from technology exports, which represent 70% of the state’s total exports overall. Hewlett Packard also has a large facility that manufactures printers. With all of these tech jobs opening up in the state, more and more people are coming into the state, making real estate values raise up pretty quickly. It would be a wise choice to get your foot in the door with investments in Idaho while things are still at an affordable rate, as things are expected to only go up from here!
Idaho is also an attractive place for investment because they have pretty low income taxes, ranging from 1.6%-7.4% depending on your income, which is much less than some states. If you have to buy something here, there is also less sales tax than other states with most towns setting their rate at 6%. These low rates keep money in people’s pockets and keep them happy and staying in Idaho!