Idaho Falls Offers a Lot of Potential Due to its Current and Expected Growth
- According to Inman Research, Idaho Falls is on the “top ten” list of small towns expecting rapid growth over the next 10 years.
- 50+ new multi-family units are under construction.
- Melaleuca is constructing a new 350,000 square foot facility plus a 6,000 acre commercial/industrial business park for future growth.
- A large manufacturing business is expanding into Ucon.
- Manufacturing jobs fuel growth due to the fact that whenever a manufacturing job is created there is a need for additional service jobs, housing, and retail.
- Vacancy rates for the area are consistently low compared to the national average.
- Value indicators in the Idaho Falls market based on 19 sales in 2012 are as follow: GRM ~ 7.7; Cap Rate ~ 8.0; Price/unit ~ $50,300; and Price/SF ~ $57.00. REO sales are down 80% for multifamily in 2012 vs 2011.