Article Table Of Contents
Everyone wants a home that mixes affordability with comfort and Idaho does this very well. Families love the Gem State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Idaho that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Idaho for 2023.
So where is the most expensive place to live in Idaho? That would be Sandpoint.
the 2017-2021 American Community Survey for the 33 places in Idaho with more than 5,000 people.
Here are the 10 most expensive places to live in Idaho for 2023:
What's the most expensive place to live in Idaho? Well, HomeSnacks crunched the numbers and discovered that Sandpoint is the most expensive place to live in Idaho.
So hopefully Emmett (the cheapest place to live in Idaho) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Idaho and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Idaho For 2023
1. Sandpoint
/10
Population: 8,448
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 5.8x (3rd most expensive)
Income To Rent Ratio: 50.4x (2nd most expensive)
More on Sandpoint: Real Estate | Data | Photos
The median income in Sandpoint comes in at $53,567 and the median home value is $309,900 for 2023.
2. Hayden
/10
Population: 15,316
Rank Last Year: 2 (No Change)
Home Price To Income Ratio: 4.8x (7th most expensive)
Income To Rent Ratio: 49.4x (most expensive)
More on Hayden: Real Estate | Data | Photos
The median income in Hayden comes in at $61,124 and the median home value is $292,300 for 2023.
3. Rexburg
/10
Population: 33,684
Rank Last Year: 3 (No Change)
Home Price To Income Ratio: 6.0x (2nd most expensive)
Income To Rent Ratio: 52.4x (5th most expensive)
More on Rexburg: Real Estate | Data | Photos
The median income in Rexburg comes in at $44,034 and the median home value is $264,000 for 2023.
4. Coeur D'alene
/10
Population: 53,189
Rank Last Year: 4 (No Change)
Home Price To Income Ratio: 5.2x (4th most expensive)
Income To Rent Ratio: 55.1x (9th most expensive)
More on Coeur D'alene: Real Estate | Data | Photos
The median income in Coeur D'alene comes in at $59,699 and the median home value is $309,000 for 2023.
5. Boise City
/10
Population: 231,537
Rank Last Year: 9 (Up 4)
Home Price To Income Ratio: 4.7x (8th most expensive)
Income To Rent Ratio: 62.0x (13th most expensive)
More on Boise City: Real Estate | Data | Photos
The median income in Boise City comes in at $68,373 and the median home value is $322,300 for 2023.
6. Eagle
/10
Population: 29,665
Rank Last Year: 8 (Up 3)
Home Price To Income Ratio: 4.9x (6th most expensive)
Income To Rent Ratio: 65.8x (19th most expensive)
More on Eagle: Real Estate | Data | Photos
The median income in Eagle comes in at $99,814 and the median home value is $488,500 for 2023.
7. Post Falls
/10
Population: 38,162
Rank Last Year: 10 (Up 3)
Home Price To Income Ratio: 4.4x (11th most expensive)
Income To Rent Ratio: 59.7x (10th most expensive)
More on Post Falls: Real Estate | Data | Photos
The median income in Post Falls comes in at $65,592 and the median home value is $286,800 for 2023.
8. Garden City
/10
Population: 12,056
Rank Last Year: 6 (Down 2)
Home Price To Income Ratio: 4.7x (9th most expensive)
Income To Rent Ratio: 54.7x (8th most expensive)
More on Garden City: Real Estate | Data | Photos
The median income in Garden City comes in at $54,540 and the median home value is $254,700 for 2023.
9. Meridian
/10
Population: 115,227
Rank Last Year: 11 (Up 2)
Home Price To Income Ratio: 4.1x (14th most expensive)
Income To Rent Ratio: 64.6x (17th most expensive)
More on Meridian: Real Estate | Data | Photos
The median income in Meridian comes in at $85,201 and the median home value is $349,400 for 2023.
10. Moscow
/10
Population: 25,336
Rank Last Year: 5 (Down 4)
Home Price To Income Ratio: 5.1x (5th most expensive)
Income To Rent Ratio: 63.5x (14th most expensive)
More on Moscow: Real Estate | Data | Photos
The median income in Moscow comes in at $49,251 and the median home value is $251,700 for 2023.
Methodology: How We Determined The Most Expensive Places To Live In The Gem State For 2023
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2017-2021 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Idaho to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 33 places in Idaho that have more than 5,000 people.
The place with the highest cost of living in Idaho according to the data is Sandpoint. You can download the data here.
Summary: Taking A Chunk Out Of Your Paycheck In Idaho For 2023
Well there you have it, the places in Idaho that have the highest cost of living, with Sandpoint ranking as the most expensive city in the Gem State.
Here's a look at the most affordable cities in Idaho according to the data:
- Emmett
- Burley
- Payette
For more Idaho reading, check out:
- Best Places To Live In Idaho
- Cheapest Places To Live In Idaho
- Most Dangerous Cities In Idaho
- Best Places To Raise A Family In Idaho
- Safest Places In Idaho
- Worst Places To Live In Idaho
Detailed List Of The Most Expensive Cities In Idaho
Rank | City | ExpensiveScore |
---|---|---|
1 | Sandpoint | 3.67 |
2 | Hayden | 5.33 |
3 | Rexburg | 6.33 |
4 | Coeur D'alene | 6.67 |
5 | Boise City | 8.67 |
6 | Eagle | 8.67 |
7 | Post Falls | 10.0 |
8 | Garden City | 10.33 |
9 | Meridian | 11.33 |
10 | Moscow | 11.33 |
11 | Hailey | 12.0 |
12 | Rathdrum | 12.33 |
13 | Kuna | 12.33 |
14 | Nampa | 13.67 |
15 | Star | 15.0 |
16 | Middleton | 15.33 |
17 | Mountain Home | 17.0 |
18 | Caldwell | 17.67 |
19 | Preston | 20.0 |
20 | Twin Falls | 20.0 |
21 | Ammon | 20.33 |
22 | Weiser | 21.0 |
23 | Idaho Falls | 21.67 |
24 | Lewiston | 22.67 |
25 | Chubbuck | 23.33 |
26 | Fruitland | 25.67 |
27 | Rupert | 26.0 |
28 | Jerome | 26.33 |
29 | Pocatello | 26.67 |
30 | Blackfoot | 26.67 |
31 | Payette | 27.0 |
32 | Burley | 27.33 |
33 | Emmett | 28.67 |