- Boise Outperforms U.S.
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.
- Supply & Demand
Low levels of speculative construction and strong demand will likely contribute to lower vacancy and higher rents for the remainder of 2023. Demand has outpaced supply by 30.0% over the previous 15 months.
- Pads Anyone?
Build-to-suit construction pad rents are reaching $45.00 per-square-foot (psf).
- 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.
- Strong Leasing Activity
The Boise retail market exhibited strong demand in Q2 2023, with nearly 200,000 square feet of direct leasing activity QOQ and nearly 600,000 YOY.
Boise Retail Five Fast Facts | Q2 2023
Chris Ison • 7/19/2023
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Article • Workplace
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%.
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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).
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Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
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