The Cost of Home Building in Idaho: How It Compares to National Averages
In recent years, Idaho has become a popular choice for new home construction, attracting buyers and builders with its scenic landscapes, growing job market, and affordable living costs. However, with rising demand and economic shifts, the average cost of building a home in Idaho has reached $315,520, close to the national average of $329,000.
For comparison, the average cost to build a home in Kansas is $207,120 and $210,900 in Nebraska, while at the other end of the scale it costs an average of $421,080 to build a home in Alaska, $412,840 in Hawaii, and $405,440 in California. Nationwide, the cost to build a home can range from $42,000 to $900,000.
These figures don’t include the cost of land. Nationally, lot costs range from $3,000 to $150,000, depending on the location and size of the house.
In this article, we’ll explore the cost of home building in Idaho and examine how these costs measure up to national averages.
The Cost of Home Building in Idaho
Generally, construction materials and labor will make up approximately 90% of the costs to build a home. This includes framing, gutters and roofing, siding, and other expenses. The rest goes to site preparation, finishes to the interior and exterior, and add-ons.
As of recent estimates, the average cost per square foot to build a home in Idaho generally ranges from $115 for bungalows to $460 luxury homes, compared to the national average of $150 per square foot. Costs per square foot are also affected by factors such as land cost and local labor rates.
Here’s a breakdown of costs per square foot by home type:
Bungalow: $115 to $143.75 per square foot. For a 2,000 square foot craftsman-style bungalow, the estimated cost would range from $230,000 to $287,500.
Mid-Range Home: $143.75 to $316.25 per square foot. The estimated cost for a 2,000 square foot home would be $287,500 to $632,500.
Luxury Home: $316.25 to $460 per square foot. For a 2,000 square foot home, the estimated cost would range from $632,500 to $920,000.
When building a home in Boise or other populous areas where housing demand is higher, the cost per square foot tends to be on the higher end of the spectrum.
Here’s a breakdown of the average cost per square foot in various cities:
Boise: $124 for a bungalow, $186 for mid-range, and $496 for luxury.
Idaho City: $116 for a bungalow, $174 for mid-range, and $464 for luxury.
Idaho Falls: $111 for a bungalow, $166.50 for mid-range, and $444 for luxury.
Meridian: $115 for a bungalow, $172.50 for mid-range, and $460 for luxury.
Nampa: $111 for a bungalow, $166.60 for mid-range, and $444 for luxury.
Pocatello: $111 for a bungalow, $166.50 for mid-range, and $448 for luxury.
Twin Falls: $112 for a bungalow, $168 for mid-range, and $448 for luxury.
Boise, in particular, has seen rising construction costs due to increased demand, leading to higher prices for materials and labor. However, in more rural parts of Idaho, construction costs may be slightly lower, though savings in materials and labor may be offset by transportation or logistical expenses.
Land Costs in Idaho
Land costs can range significantly depending on where in Idaho you plan to build. For example, in Boise a 5,000 square foot property may cost $200,000. Meanwhile in rural areas you can purchase farmland for $2,600 per acre. (Here’s a guide for buying a home on acreage.)
Idaho’s growth has outpaced many other states. Thus, while construction prices remain somewhat affordable compared to coastal states like California, Idaho’s land prices are rising at a notable rate.
Additionally, keep in mind permitting and regulatory costs, which can cost up to $10,000 in urban areas, and other expenses such as landscaping and fencing.
How to Save on Building Costs
Home builders in Idaho have adopted various strategies to help mitigate rising costs. These include selecting less expensive materials, using prefab components, and choosing simpler architectural designs to reduce labor intensity.
Additionally, building in less densely populated areas can significantly cut down on land and permitting costs. While these methods may help keep some costs under control, Idaho’s competitive real estate market remains highly active, and pricing pressures are likely to persist as demand continues to grow.
Conclusion
For prospective home builders and homebuyers in Idaho, understanding these costs is crucial to budgeting. By choosing strategic locations, utilizing cost-effective building methods, and remaining flexible, it’s still possible to build an affordable home in the Gem State. However, staying informed and considering the long-term trends in Idaho’s housing market are essential for making the most of this growing region.
