Affordable cost of living, excellent job growth, and booming industries have motivated more than 25,730 people to move to Idaho. But itās not that easy for everyone. With a median home price of $460,288, Idaho can be expensive.
Should that stop you from moving to the Gem State? Absolutely NOT!
Cities like Pocatello and Jerome offer several budget-friendly options. While Pocatello offers a cost of living 17% lower than the national average, the median home price in Jerome is $374K.
Whether youāre a retiree or a young professional looking for exciting opportunities, Idaho has affordable housing for everyone. Letās explore some of the cheapest places to live in Idaho!
4 Reasons to live in Idaho š
- Cheaper Houses: The median home sale price in Idaho is ~$460K but you can get houses between $324K and $456K in cities like Burley, Preston, and Payette.
- Tax Benefits: Idaho is tax-friendly toward retirees. Social Security income is not taxed. Wages are taxed at normal rates, and your marginal state tax rate is 5.80%.
- Affordable Utilities: Utilities in cities that are listed below is up to 15% lower than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than the national average. You can save up to $146 per month in rent.
Cheapest Places to Live in Idaho in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Burley | $52,086 | $324,694 | 11,274 | 3.1% | 12.8% |
| Pocatello | $51,293 | $330,596 | 55,865 | 3% | 14.3% |
| Blackfoot | $51,971 | $344,417 | 12,106 | 3.5% | 13.9% |
| Payette | $49,683 | $456,948 | 7,999 | 4.5% | 13% |
| Twin Falls | $53,936 | $356,521 | 51,223 | 4.3% | 13.6% |
| Lewiston | $60,581 | $371,388 | 33,964 | 3.4% | 15.2% |
| Jerome | $54,535 | $374,655 | 12,182 | 5.7% | 18.2% |
| Chubbuck | $69,992 | $378,615 | 16,362 | 3.8% | 8.18% |
| Ammon | $76,471 | $405,380 | 19,617 | 3.1% | 5.79% |
| Preston | $51,914 | $413,515 | 6,112 | 4.0% | 16.45% |
10 Cheapest Places to Live in ID
With a cost of living 6% below the national average, Idaho is home to some of the nationās most expensive cities. However, amidst this disparity, cities in Idaho has several affordable living options.
1. Burley
| š¢ Cost of Living Compared to National Average | 16.4%ā¬ļø |
| š” Median Home Price | $324,694 |
| š² Median Rent | $1,550 |
| š Known For | Snake River |
Burley is one of the most affordable places to live in Idaho. Its median house rent ranges from $995 – $3,600. A low cost of living and affordable housing has led to a population growth of 4.39% since 2020.
The city’s picturesque setting along the Snake River makes Burley a desirable place to live, offering residents stunning natural landscapes and outdoor recreational opportunities. Additionally, the city serves as an employment hub for job seekers, boasting major employers like D.L. Evans Bank and Goode Motor Ford.
Ā» Homes for Sale in Burley, ID: Find cheap Idaho homes for sale.
2. Pocatello
| š¢ Cost of Living Compared to National Average | 10.8%ā¬ļø |
| š” Median Home Price | $330,596 |
| š² Median Rent | $1,050 |
| š„ Known For | Idaho Potato Museum |
Pocatello is one of the most budget-friendly rental destinations in Idaho with an average home rent of $1,050. It also offers affordable transportation which is 25.7% lower than the national average, making it one of the cheap and best cities to live in Idaho.
Its proximity to outdoor attractions like the nearby mountains and the Portneuf River makes Pocatello, ID an appealing place to live. The city provides ample opportunities for recreational activities. Apart from this, Pocatello has major employers like Idaho State University and Muffler Warehouse Inc. that offers plenty of employment options.
Ā» Homes for Sale in Pocatello, ID: Browse thousands of affordable and cheap homes in Idaho.
3. Blackfoot
| š¢ Cost of Living Compared to National Average | 11.5%ā¬ļø |
| š” Median Home Price | $344,417 |
| š² Median Rent | $1,050 |
| š¼ļø Known For | Bingham County Historical Museum |
With rental costs below the national average, Blackfoot stands as one of the most affordable cities to live in Idaho. The house rent price is between $775 – $2,000. Also, housing costs are 12.8% lower than the national average.
Residents can explore Blackfoot’s Idaho Potato Museum and Eastern Idaho State Fair. Additionally, Blackfoot boasts a growing economy with several major employers, such as Nonpareil Corporation and J.R. Simplot Company.
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4. Payette
| š¢ Cost of Living Compared to National Average | 12.1%ā¬ļø |
| š” Median Home Price | $456,948 |
| š² Median Rent | $1,695 |
| ā³ Known For | Scotch Pines Golf Course |
Payette offers budget-friendly cost of living of 12.1% lower than the national average. With grocery costs being 9.8% lower than the US average, the city stands out as one of the most inexpensive places to live in Idaho.
Residents and visitors in Payette, Idaho can enjoy outdoor activities along the scenic Payette River, such as fishing, kayaking, and hiking. The city offers attractive opportunities of jobs in Idaho. With major employers like Valley Family Health Care and WICAP, Blackfoot is an ideal place for young adults seeking employment.
Try Idaho’s #1 Mortgage Calculator to see how much house you can afford. Get an instant amortization schedule and a detailed cost breakdown for freeš².
5. Twin Falls
| š¢ Cost of Living Compared to State Average | 8.2%ā¬ļø |
| š” Median Home Price | $356,521 |
| š² Median Rent | $1,625 |
| š¤½ Known For | Shoshone Falls |
With a median home price of 356K below the national average, Twin Falls stands as one of the most affordable cities to live in Idaho. The house rent price is between $675 – $4,600.
Residents in Twin Falls, Idaho can marvel at the iconic Shoshone Falls, often referred to as the “Niagara of the West,” for its impressive cascades. Also, Twins Falls offers a thriving job market with a diverse range of industries. Its strategic location and growing economy have attracted numerous employment opportunities for its residents. Major employers such as Glanbia Foods Inc and Gem State Paper & Supply are among the many companies that have contributed to the region’s economic growth.
Ā» Homes for Sale in Twin Falls, ID: Browse through thousands of homes in Idaho for sale.
6. Lewiston
| š¢ Cost of Living Compared to National Average | 5.7%ā¬ļø |
| š” Median Home Price | $371,388 |
| š² Median Rent | $1,975 |
| š· Known For | Clearwater Canyon Cellars |
The house rent in Lewiston is between $795 – $3,100. You can comfortably live in this city with an average household income of $63,109. A low cost of living and affordable housing have led to a population growth of 2.3% since 2020.
Residents in Lewiston, Idaho can explore the Nez Perce County Historical Society & Museum, delving into the rich history and culture of the Nez Perce tribe and the region. Besides this, Lewiston offers a variety of employment opportunities across various industries such as Atk and Coleman Oil. These employers, along with numerous small businesses and government agencies, contribute to the city’s vibrant job market.
Ā» Homes for Sale in Lewinston, ID: Find a home in one of the cheapest places to live in Idaho.
7. Jerome
| š¢ Cost of Living Compared to National Average | 10.7%ā¬ļø |
| š” Median Home Price | $374,655 |
| š² Median Rent | $1,391 |
| š Known For | Minidoka National Historic Site |
Jerome is one of the best places to live in Idaho. The median home price in Jerome is $374,655. The monthly cost of food and utilities is ~34% lower than the national average. Renting a two-bedroom unit in Jerome costs $1,020 per month, which is 28.7% cheaper than the national average.
At the Minidoka National Historic Site in Jerome, Idaho, residents can experience the unique sights that commemorate the internment of Japanese Americans during World War II. The city also boasts ample of job opportunities with companies such as Canyon Trail Realty. It provides economic growth to the city.
Ā» Homes for Sale in Jerome, ID: Get yourself cheap homes for sale in Idaho.
8. Chubbuck
| š¢ Cost of Living Compared to National Average | 10.8%ā¬ļø |
| š” Median Home Price | $378,615 |
| š² Median Rent | $1,050 |
| š¼ļø Known For | Bannock County Event Center |
Chubbuck is often considered a more affordable option compared to larger cities, thanks to its lower utility costs. These costs are typically around ~10% lower than the national average, making it a more budget-friendly place to live.
Another significant benefit of this city is, it has employers Idaho Central Credit Union and Woodgrain Millwork. These employers, along with numerous other businesses in the area, contribute to the city’s thriving job market.
Ā» Homes for Sale in Chubbuck, ID: Find cheapest city to live in Idaho.
9. Ammon
| š¢ Cost of Living Compared to National Average | 5.7%ā¬ļø |
| š” Median Home Price | $405,380 |
| š² Median Rent | $1,653 |
| šļø Known For | Snake River Ferry |
Ammon is one of the cheap cost of living cities with 10.6% lower and monthly costs of food and utilities 8.1% lower than the national average. Additionally, renting a two-bedroom unit in Ammon costs $1,483 per month. These figures make Ammon an attractive option for those seeking a more budget-friendly lifestyle.
Ammon, Idaho offers a growing job market, particularly in the fields of retail, hospitality, and healthcare. Major employers in the area include Walmart, Albertsons, and Eastern Idaho Regional Medical Center. Ammon’s proximity to Idaho Falls, a larger city, also provides additional employment opportunities.
Ā» Homes for Sale in Ammon, ID: Search affordable and cheap places to live in Idaho.
10. Preston
| š¢ Cost of Living Compared to National Average | 4.9%ā¬ļø |
| š” Median Home Price | $413,515 |
| š² Median Rent | $1,295 |
| š Known For | The Matthias Cowley House |
Preston offers an affordable cost of living and rental costs. House rent prices typically range from $1,095 – $1,650, making it a budget-friendly option for residents. Grocery shopping in Preston can be more cost-effective compared to other areas as it is 8.1% cheaper.
Moreover, J.R. Simplot Company and Potlatch Corporation are among the top leading companies in the agriculture and forest products industries. These companies, along with numerous other businesses in the area, contribute to the city’s thriving job market.
Ā» Homes for Sale in Preston, ID: Find cheap houses for sale in Idaho.
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The Bottom Line
The average cost of living in Idaho is 6% lower than the national average. It is also home to some of the most expensive cities in America. However, if you want to shift here, you can find affordable houses in Idaho cities like Burley, Pocatello, and Blackfoot.
Cities like Payette and Preston have a slightly expensive cost of living but provide a better job market. Before relocating, do your research and find the lowest cost of living in Idaho that suits your needs.
Ā» Free Home Value Estimator: Get an estimate of property values with Idaho’s most accurate home value estimator.
Find Homes for Sale in ID Under Your Specific Budget
Ā» Best Rental Websites in America: Can’t find your dream home within your budget? Explore thousands of listings on the nation’s top rental websites.
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Research Methodology
We’ve created this list by considering factors such as cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Idaho, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
Where is the cheapest place to live in Idaho?
The cheapest place to live in Idaho is Burley. It offers one of the most affordable utilities in the state, which is 16.1% lower than the national average.
Ā» 10 Cheapest Places to Live in Idaho: Find out the other cheapest places to live in Idaho!
Is Idaho the cheapest place to live in?
No, it is not. The median home value is $460,288. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
Where is the best place to live in Idaho?
TheĀ best place to live in IdahoĀ is Meridan, followed by Boise, Idaho Falls, Pocatello, Coeur dāAlene, Twin Falls and Nampa.
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