- Office Demand Outperforms Most Markets
The Boise market’s overall vacancy increased in Q2 2023 to 10.2%, up 200 basis points quarter-over-quarter (QOQ), but continued to perform well below the national vacancy rate of 19.2%.
- Competitive Rents
The national average rent of $37.31 price per-square-foot (psf) represents a 62.8% premium over the Boise market average rent of $22.91 psf.
- More Sublease Space
Available sublease space jumped 22.7% QOQ and 60.2% year-over-year (YOY).
- Strong Population Growth & Low Unemployment
Boise was ranked No. 3 in annual population growth nationwide at 2.2% and is projected to increase further, while its economy expanded at a rate of 3.4% YOY.
- Sales Volume & Price On Rebound
Sales Volume and prices were down YOY, but are both up QOQ.
Boise Office Five Fast Facts | Q2 2023
Chris Ison • 7/19/2023
The Boise market’s overall vacancy increased in Q2 2023 to 10.2%, up 200 basis points quarter-over-quarter (QOQ), but continued to perform well below the national vacancy rate of 19.2%.
Related Insights

Article
Boise Industrial Five Fast Facts
The Boise industrial market continued its high velocity growth pattern, with over one million square feet (msf) delivered in Q2 2023 and over 1.8 msf delivered year-to-date (YTD).
Chris Ison • 7/19/2023

Article
The Boise market outpaced the U.S. market in population growth, household income, and unemployment. The retail market remains on an upward trajectory based on key indicators.
Chris Ison • 7/19/2023

MarketBeat
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
Chris Ison • 7/11/2023