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.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Minidoka County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,620,879 | $355,887 | $242,182 |
| Price Trend (Annual %) | 125.7% | 14.8% | 8.2% |
| Median Gross Rent | $909 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 7.3% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Minidoka County is about 355% higher than in Idaho. Rent is about 21% 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 Minidoka County, up about 125.7% and 7.3% a year respectively. Home prices are changing faster.
Median rent in Minidoka County rose about 62.8% between 2015 and 2023, from $559 to $909. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 23.5 yearly household incomes in Minidoka County.
Buying the median-priced home in Minidoka County costs roughly 148.5 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 Minidoka County. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Minidoka County | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,620,879 | $355,887 | $242,182 |
| Median Household Income | $69,024 | $74,676 | $78,145 |
| Price-to-Income Ratio | 23.5 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Minidoka County rose about 1068.8%, while median household income rose about 71.5% 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 | Minidoka County | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.1% | 64.7% | 58.2% |
| Rental Rate | 25.1% | 24.7% | 31.3% |
| Vacancy Rate | 7.8% | 10.7% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Minidoka County has a homeownership rate of 67.1%, higher than the Idaho average of 64.7%. Its housing vacancy rate is 7.8%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Minidoka County | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.79 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 1976 | 1987 | 1978 |
| Median Number of Rooms | 5.7 | 5.9 | 5.5 |
The typical housing unit in Minidoka County was built around 1976. On average, 2.8 people live in a home with about 5.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Minidoka County, Idaho.
What is the median home price in Minidoka County, Idaho?
The median home price in Minidoka County, Idaho is $1,620,879, higher than the Idaho average of $355,887.
What is the average home price in Minidoka County, 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 Minidoka County, Idaho?
The median gross rent in Minidoka County, Idaho is $909 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Minidoka County in 2020?
In 2020, the median gross rent in Minidoka County, Idaho was $717 per month.
What is the price-to-rent ratio in Minidoka County, Idaho?
The price-to-rent ratio in Minidoka County, Idaho is about 148.5, meaning it would take roughly 148.5 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 Minidoka County.
Are home prices or rent rising faster in Minidoka County, Idaho?
Both home prices and rent are rising in Minidoka County, up about 125.7% and 7.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Minidoka County, Idaho?
67.1% of households in Minidoka County, Idaho own their home, higher than the Idaho average of 64.7%.
What is the vacancy rate in Minidoka County, Idaho?
The housing vacancy rate in Minidoka County, Idaho is 7.8%, lower than the Idaho average of 10.7%.