Cost of Living in Idaho [2024]
Idaho is most famously known for its potatoes, though it is nicknamed the Gem State, as it is home to over 70 different types of precious and semi-precious stones. In addition to gemstones, the 43rd state of the United States offers a unique combination of rich heritage, welcoming communities, and a taste of the west.
According to the U.S. Census Bureau, despite being the 14th largest state in the country, Idaho remains the 38th-most populated. Offering abundant scenic areas and natural resources, this Rocky Mountain state is an excellent choice for anyone looking to get out of the hustle and bustle of busy downtowns and breathe in the fresh mountain air.
If you’re thinking about moving to Idaho, you’ve come to the right place. You’ll first want to check out this apartment guide. Next, you’ll want to do some research to find out what Idaho’s cost of living prices look like. Thankfully, here at Apartment List, you can take a closer look at the Idaho cost of living to better understand what type of budget you’ll need to live comfortably.
Cost of Living in Idaho
What Is the Cost of Living in Idaho?
The cost of living in Idaho is 6.17% lower than the national average, making it the 6th most affordable state in the country. However, the cost of living in Idaho varies depending on the area you live in.
Where Is Cost of Living Highest in Idaho?
The most expensive city in Idaho is Boise, where the cost of living is 11.69% higher compared to the state average and 4.8% higher than in the rest of the U.S.
Where Is Cost of Living Lowest in Idaho?
The cheapest major city in Idaho is Idaho Falls, with a cost of living being 10.59% lower compared to the state average and 16.1% lower than the national average.
How Much Is Rent in Idaho?
As of June 2024, the overall average rent in Idaho is $1,117. For one-bedroom apartments, that average is $839, while two-bedrooms run closer to $1,047. In Boise, Idaho's largest city, median rent for a one-bedroom is $1,106, while it's $1,274 for two-bedrooms.
How Much Is Housing in Idaho?
According to the latest census data, the median home value in Idaho is $331,600, with most residents spending around $1,520 a month on their homes including mortgages.
What Salary Do I Need to Live in Idaho?
With this information, you can calculate your recommended salary by utilizing the 30% rule, which says you should not be spending more than one-third of your gross income on rent. To determine how much money you will need to make to live comfortably in Idaho, you can assume you’re planning to rent in Boise, where the median rent for a one-bedroom is $1,117. According to the 30% rule, your monthly wages should be at least three times this amount, equalling a little over $3,700 per month or around $44,500 annually.
Finding a recommended salary for your new life in Idaho will mostly depend on the lifestyle you plan to have there. The living wage in Idaho is $16.16 per hour, which represents the basic hourly wage for a single adult to pay for essentials, including housing, food, and necessities.
The average salary index in Idaho is $44,615 per year, roughly $21.45. per hour.
How Much Is Transportation in Idaho?
If you’re planning on living outside of the city, you’ll need to look into costs associated with having a vehicle of your own. According to the MIT Living Wage Calculator, average annual transportation costs come out to about $10,847 for a single individual. A family of four with two working parents and two children can anticipate paying around $18,194 in annual transportation costs.
Unless you live within the main cities of Boise, Moscow, or Idaho Falls, you will likely need to rely on a vehicle of your own to get around. In Boise, available public transportation options include ValleyRide, ACCESS, Valley Regional Transit, and SHIP.
Considering the limited access to public transportation throughout the state, having a vehicle in Idaho is probably the best way to get around. Depending on where you live, Idaho’s gas prices are relatively low compared to the rest of the country, averaging $3.93 a gallon. Here’s a look at some of the gas prices you’ll pay around Idaho:
- Boise: $3.98
- Moscow: $4.13
- Coeur d'Alene: $3.86
How Much Are Food Costs in Idaho?
The average single Idaho resident spends around $4,545 on food. For a four-person family with two working adults and two children, these costs nearly triple to $13,358.
While food costs sound relatively reasonable compared to other states, it’s important to remember that these figures are associated with food that has been picked up at the local Albertsons, Westfarm Foods, or Costco and has been entirely prepared in the home.
If home-cooked food isn't your primary source of meals, you will likely need to add a considerable amount to properly budget for additional food costs associated with dining out.
Idaho's must-eats include finger steaks, morel mushrooms, key lime pie, and the Idahoan (meatloaf with mashed potatoes drizzled in a ketchup chili glaze, with white cheddar and Colby Jack cheeses).
Here is a breakdown of the average cost for a three-course meal for two people in a mid-range restaurant by city:
- Moscow: $55
- Boise: $70
- Coeur d'Alene: $75
How Much Are Utilities in Idaho?
The overall average cost of utilities for a 915 square foot apartment in Idaho is currently $207.93, which is much lower than the overall U.S. average of $253.14. However, as you can see from the chart below, Boise's average is actually higher than the national average by quite a bit:
| Location | Avg Electricity Cost | Avg Gas Cost | Avg Water Cost | Avg Fuel Cost | Avg Total Cost |
|---|---|---|---|---|---|
| Boise City, ID | 144.05 | 63.79 | 82.88 | 0.42 | 291.14 |
| Idaho | 121.52 | 39.33 | 41.23 | 5.85 | 207.93 |
Because Idaho has a vast mountainous topography, diverse climates are typical, extending the range for average utility bills in Idaho depending on your region. Statewide, Idaho averages approximately 18 inches of rain and 47 inches of snow per year. The hottest month is in July, when temperatures can reach 85 degrees, and the coldest month is in January, with a low of 17 degrees.
Learn more about the estimated utility costs per city!.
How Much Is Healthcare in Idaho?
A single adult without children can anticipate paying around $2,613 for medical care in a single year, while a family of four with two working adults and two children can expect to pay $9,586.
Having proper healthcare is crucial for maintaining a healthy lifestyle, regardless of where you live. Whether you have a condition that requires routine care or you only visit a doctor for annual checkups, you’ll want to ensure you have proper health insurance. Having health insurance ensures you get the necessary treatment should emergencies occur.
The federal healthcare marketplace lists out available coverage in Idaho. Be sure to report your move to qualify for out-of-state coverage, as relocating outside of an enrollment period can cause complications.
If you are under 26 and still on your parent’s insurance plan, you might be able to maintain your coverage even when moving to Idaho. Check through your parent’s provider to see if your new Idaho hometown has doctors that fall within the network.
Idaho Fitness and Entertainment
There are fitness and entertainment opportunities for everyone in Idaho. If you choose to live in this beautiful state, you will likely take the time to enjoy the outdoors. Don’t forget to account for some of your fitness and entertainment expenses in your budget.
Fitness
Winters are notoriously cold and filled with snow in Idaho. Because of this, maintaining your fitness year-round will likely require a gym membership. Thankfully, the average cost of a fitness club in major cities throughout Idaho is relatively low:
- Moscow: $54.70
- Boise: $37.56
- Coeur d'Alene: $65
As weather permits, you can save on some of your gym membership fees by taking up other outdoor activities. Some popular Idahoan adventures include rafting, climbing, and hiking, all of which you could partake in at one of the plentiful National or State Parks.
National and State Parks
Idaho is home to seven national state parks. While entrance fees vary, you can purchase an America the Beautiful National Parks and Federal Recreational Lands Pass annual pass for $80, which allows access to all of the parks, the most popular being:
- Yellowstone National Park
- Hells Canyon National Recreation Area
- Craters of the Moon National Monument
- Clearwater National Forest
- City of Rocks National Reserve
Aside from national parks, Idaho has 27 state parks. Local Idahoans can purchase an Idaho State Parks Passport for $10 per year, offering unlimited day-use access to every park within the state. Some of the most popular state parks include:
- Hiawatha Mountain Bike Trail
- Harriman State Park
- Farragut State Park
- Henry’s Lake State Park
- Hells Gate State Park
Coeur d’Alene
In the northwest region of Idaho, you will find Coeur d’Alene. This city is known as the playground of the Pacific Northwest, offering everything from championship golf courses to lake cruises and everything in between.
Twin Falls
Twin Falls is a city found in the state’s southern region, serving as a gateway to the Snake River Canyon to the north. The canyon is the perfect location for outdoor enthusiasts, boasting activities including boating, hiking, and fishing.
Idaho Falls
In Eastern Idaho, you will find Idaho Falls. The only professional sports team in the region comes from Idaho Falls, which is known for being a cultural and commercial hub. The downtown area is filled with life, boasting a flawless blend of mom and pop shops, historic buildings, and independent restaurants.
Yellowstone
You can find the western slope of the Tetons and the west edge of Yellowstone National Park in Idaho. Island Park is a 50-mile hollow formed millions of years ago and today houses stunning rivers and beautiful forests. Island Park can be found 20 minutes from the western entrance to Yellowstone.
Other Expenses to Consider in Idaho
One major downside to living in Idaho is its progressive income tax rate, with the top rate at 6.925%. Thankfully, to help balance this, the state has relatively low sales tax at 6% and low property taxes.
Plan on additional expenses if you move from out of state, including movers, storage, hotels, and transportation. Other things to consider are additional fees like apartment application fees, security deposits, pet deposits, and other add-ons.
You’ll also want to decorate your new apartment to make it feel like home. Make sure you decorate your apartment on a budget. Otherwise, these costs could start to add up.
Looking for an Apartment in Idaho?
Idaho offers rental opportunities for all, with everything from apartment complexes to remote cabins. In Idaho, you can choose just how much space you want between you and your neighbor, which is an uncommon luxury in more densely populated states.
If you are looking to move somewhere where you can fully enjoy each season and have the vast wilderness in your backyard, Idaho might be the place for you. Register with Apartment List today or start browsing hundreds of apartments available for rent in Idaho!
FAQs: Cost of Living in Idaho
How expensive is an apartment in Idaho?
Idaho apartments are still relatively affordable, especially for large cities, like Boise. A one bedroom apartment in Boise is $1,112 a month. A two bedroom apartment in Boise is $1,313 a month.
What is the cheapest rent in Idaho?
The cheapest median rent in Idaho is a one bedroom apartment. You’ll spend an around $832 for a one bedroom apartment in the state of Idaho. In Boise, the median rent on a one-bedroom apartment is $1,060 a month.
How expensive is it to live in Idaho?
The overall median rent in Idaho is $823 a month. A one bedroom apartment in Boise averages $1,087. A two bedroom apartment in Boise costs $1,252.
Single adults in Idaho will spend an average of $10,847 a year on transportation. A family of four with two working adults will spend around $18,194 on transportation each year. Single adults will spend an average of $4,545 a year on food. A family of four with two kids will spend $13,358 a year on food.
Is Idaho cheaper than California?
Yes, Idaho is cheaper than California. If you look at the median rents of the two state’s major cities, you’ll see Idaho is significantly less expensive. A one bedroom apartment in Boise is $1,128. The cost of a one bedroom apartment in Sacramento is $1,382 a month. In Los Angeles, the average rent for a one bedroom apartment is $1,564.
What is the population of Idaho?
According to the U.S. Census Bureau, the population of Idaho is 1,964,726.
What is a good salary in Idaho?
According to the U.S. Census Bureau, the median income in Idaho is $63,377. To live comfortably in a one bedroom apartment, consider paying 30% or less of your take home pay on rent. If you rent a one bedroom apartment in Boise for $1,128, you need a salary of $45,120 to live comfortably. For a two bedroom apartment that costs $1,299, you’ll need a salary of at least $51,960.
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