Home Tips 11 Financial Consideration Before Moving to Boise, Idaho

11 Financial Consideration Before Moving to Boise, Idaho

Source: catalystidaho.com

The state of Idaho has a nickname “gem state” and when you get to this state, you will understand why its residents call it like that. The reason is that it has numerous natural resources. However, if you ask a local, you will see that the main chunk of these resources is in the landscape. But it needs to be said that Boise, the capital of the state, is considered one of the best cities to live in.

So, it doesn’t come as a surprise that so many people want to live there. In case you are one of them, visit here, and see how can you do that. Now, we would like to talk about the financial consideration you need to be aware of before moving to this city.

1. Low Housing Prices

Source: theladders.com

Even though renting prices have been growing in the last couple of years, it should be said that they are still lower than in a majority of cities in the North-Western cities. They have increased roughly by twenty percent in the last couple of years. Of course, the reason is that many people have arrived to live in the city. But it needs to be said that the market is still attractive and inexpensive by all standards.

2. Low Unemployment

For a good number of years, and even decades, the city of Boise has recorded a really low unemployment rate. Not only that, we can see that it is one of the lowest in the country. At this moment, we can see that this rate is slightly higher than 2%, which is truly exceptional. The reason why this rate is so low is that city officials have decided to focus the make it as business-friendly as it is possible.

3. Business-friendly State

According to official statistics, we can see why Idaho is considered as one of the states that focus on the business environment. It has the third-highest projected job rate and the sixth-best economy of all the states. Plus, it is included in the top 10 states who are considered tax-friendly. In the end, it needs to be said that it has the fourth-best cost of creating a firm from scratch.

4. Living Costs

Source: mccayduff.com

Utilities in this city are estimated at 18%, which is lower than the national average. When talking to locals you will learn that electricity and water have pretty affordable rates. Plus, all other bills are reasonable. The only downside is that the public transportation is not as good as the locals would like. Thankfully, a high percentage of locals have their cars and other vehicles.

5. Wages

Since there’s a lot of opportunities for getting a job, this city has a high rank in the job market. On average, the household income in the city is around $60k. Since the state of Idaho has a business-friendly regulation, it’s no wonder that the city of Boise managed to attract numerous talents from all over the country. It is often referred to as the next New York and Silicon Valley.

6. Education

Sure, we all know that the education costs are pretty high in the whole country. However, Boise is a city often described as one with the best educational facilities in the US. It has a wide array of schools for a wide array of different interests. Not only that, there are a lot of private initiatives that are ready to offer reimbursements for all kinds of education. The education has the quality, at all the levels, in this beautiful city.

7. Taxes

Source: hdfclife.com

When you collect all the tax rates that can be expected in the state of Idaho, you will see that this percentage doesn’t go over 6%. The lowest ones are property taxes, which amount to 0.7% in some parts of the city. Plus, income taxes can go up to 6.9%, which is way lower than in some other cities. All of these factors surely make this city one of the most sought-after destinations for retirement.

8. Business Culture

All the statistics are saying that the state of Idaho is among the best locations to start a business. Also, we can see that Boise, the capital, was ranked by Forbes to be one of the fastest-growing cities in 2017. There’s a lot of different kinds of businesses opened there. You will come across a wide array of different companies, manufacturing, food/beverage, tech, and energy industry.

9. Safety

Safety is really important when you are choosing the next city you would like to live in. If Boise is your choice, you will be happy to learn that it has one of the lowest crime rates in the North-Western region. Also, crimes like robberies, assaults, and other violent crimes are almost non-existing. The ones that can be described as common are petty theft, breaking, and burglaries.

10. Healthcare

Source: onlinecoursereport.com

It needs to be said that healthcare costs are somewhat bigger than in the rest of the country. However, this is not something that bothers locals too much. The reason why they are not affected by this is that all the hospitals in the city are specialized in all kinds of different categories. So, locals feel like they are taken care of pretty well.

11. Upskilling Prospects

Although the state of Idaho has a little unemployment rate, it offers many possibilities for people who are interested in obtaining new skills and education. What’s exceptional is that the highest percentage of these opportunities are completely free. It can be said that there’s no place like Boise when you are looking for a change in a career.

In Conclusion

Here, we’ve introduced you to all the financial considerations you will need to learn about before you move to Boise, Idaho. When you take all the costs of moving to this city, you will see that this amount is around $5k, which is pretty cheap. Life standards are pretty high and it’s no wonder that many people refer to it as a city of the future. So, you should definitely consider moving to it.