Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Lewiston | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $247,471 | $355,887 | $242,182 |
| Price Trend (Annual %) | 12.9% | 14.8% | 8.2% |
| Median Gross Rent | $976 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 5.8% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lewiston is about 30% lower than in Idaho. Rent is about 15% lower than the Idaho average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Lewiston, up about 12.9% and 5.8% a year respectively. Home prices are changing faster.
Median rent in Lewiston rose about 44.1% between 2015 and 2023, from $677 to $976. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Lewiston.
Buying the median-priced home in Lewiston costs roughly 21.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lewiston. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Lewiston | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $247,471 | $355,887 | $242,182 |
| Median Household Income | $70,323 | $74,676 | $78,145 |
| Price-to-Income Ratio | 3.5 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Lewiston rose about 111.0%, while median household income rose about 64.3% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lewiston | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.7% | 64.7% | 58.2% |
| Rental Rate | 26.3% | 24.7% | 31.3% |
| Vacancy Rate | 5.0% | 10.7% | 10.6% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Lewiston has a homeownership rate of 68.7%, higher than the Idaho average of 64.7%. Its housing vacancy rate is 5.0%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Lewiston | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 1966 | 1987 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Lewiston was built around 1966. On average, 2.3 people live in a home with about 6.2 rooms, staying for about 14.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Lewiston, Idaho.
What is the median home price in Lewiston, Idaho?
The median home price in Lewiston, Idaho is $247,471, lower than the Idaho average of $355,887.
What is the average home price in Lewiston, Idaho?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lewiston, Idaho?
The median gross rent in Lewiston, Idaho is $976 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Lewiston in 2020?
In 2020, the median gross rent in Lewiston, Idaho was $697 per month.
What is the price-to-rent ratio in Lewiston, Idaho?
The price-to-rent ratio in Lewiston, Idaho is about 21.1, meaning it would take roughly 21.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Lewiston.
Are home prices or rent rising faster in Lewiston, Idaho?
Both home prices and rent are rising in Lewiston, up about 12.9% and 5.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Lewiston, Idaho?
68.7% of households in Lewiston, Idaho own their home, higher than the Idaho average of 64.7%.
What is the vacancy rate in Lewiston, Idaho?
The housing vacancy rate in Lewiston, Idaho is 5.0%, lower than the Idaho average of 10.7%.