Housing
Vacancy - 12.3%
The Idaho Falls-Pocatello, ID Market ranks 58th in Vacancy across STI Markets with a Vacancy rate of 12.3%. That is 24,689 Vacant Housing units compared to 176,817 Occupied units.
Average Home Value - $473,269
The Average Home Value for owner occupied housing units in the Idaho Falls-Pocatello, ID Market is $473,269. This ranks 47th across STI Markets. Over the last 2 years there has been a change of 2% in this markets Average Home Value, compared to a national change of 9.9%. This 2 year change in home values ranks 158th across STI Markets.
Figure 55: Home Value 2year History
Mortgage Risk Level - High
Mortgage Risk is defined as the ratio of recent residential loan amount to income for new home purchases. The Mortgage Risk for the Idaho Falls-Pocatello, ID Market is 3.6. The market subsequently ranks 28th across STI Markets. This is considered to be a High level of mortgage risk.
Affordability Level - Accessible
Overall Affordability can be classified in a similar fashion, comparing the Markets Average Home Value with the Average Household Income. This Affordability ratio currently sits at 4.7. The Idaho Falls-Pocatello, ID Market therefore earns the Accessible classification for housing affordability and ranks 41st across STI Markets. The following chart shows how markets compare between these two measure. Note the breaks between affordability classifications are 3, 5, and 7.
Figure 60: Affordability Comparision
