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 | Twin Falls | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,289 | $355,887 | $242,182 |
| Price Trend (Annual %) | 12.8% | 14.8% | 8.2% |
| Median Gross Rent | $977 | $1,150 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 6.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Twin Falls is about 48% 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 Twin Falls, up about 12.8% and 4.9% a year respectively. Home prices are changing faster.
Median rent in Twin Falls rose about 49.0% between 2015 and 2023, from $656 to $977. Over the same span, rent in Idaho rose about 54.9%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Twin Falls.
Buying the median-priced home in Twin Falls costs roughly 15.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Twin Falls. The price-to-rent ratio in Idaho is about 25.8.
| Metric | Twin Falls | Idaho Avg | US Average |
|---|---|---|---|
| Median Home Price | $186,289 | $355,887 | $242,182 |
| Median Household Income | $59,288 | $74,676 | $78,145 |
| Price-to-Income Ratio | 3.1 | 4.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Twin Falls rose about 123.1%, while median household income rose about 46.3% 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 | Twin Falls | Idaho Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.8% | 64.7% | 58.2% |
| Rental Rate | 34.7% | 24.7% | 31.3% |
| Vacancy Rate | 4.5% | 10.7% | 10.6% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Twin Falls has a homeownership rate of 60.8%, lower than the Idaho average of 64.7%. Its housing vacancy rate is 4.5%, compared with 10.7% in Idaho.
Housing Stock
| Metric | Twin Falls | Idaho Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.51 people | 2.66 people | 2.54 people |
| Median Structure Built Year | 1977 | 1987 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Twin Falls was built around 1977. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Twin Falls, Idaho.
What is the median home price in Twin Falls, Idaho?
The median home price in Twin Falls, Idaho is $186,289, lower than the Idaho average of $355,887.
What is the average home price in Twin Falls, 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 Twin Falls, Idaho?
The median gross rent in Twin Falls, Idaho is $977 per month, lower than the Idaho average of $1,150.
What was the median gross rent in Twin Falls in 2020?
In 2020, the median gross rent in Twin Falls, Idaho was $824 per month.
What is the price-to-rent ratio in Twin Falls, Idaho?
The price-to-rent ratio in Twin Falls, Idaho is about 15.9, meaning it would take roughly 15.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Twin Falls.
Are home prices or rent rising faster in Twin Falls, Idaho?
Both home prices and rent are rising in Twin Falls, up about 12.8% and 4.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Twin Falls, Idaho?
60.8% of households in Twin Falls, Idaho own their home, lower than the Idaho average of 64.7%.
What is the vacancy rate in Twin Falls, Idaho?
The housing vacancy rate in Twin Falls, Idaho is 4.5%, lower than the Idaho average of 10.7%.