Wendell is home to the best residential real estate investment market in Idaho.
The 83355 zip code in Wendell presents the greatest opportunity for investors among the 292 individual real estate markets in Idaho we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
Top 5 Idaho residential real estate markets
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Wendell | 100 | 5.1 | 93.05% |
| 2 | Burley | 87.7 | 5.0 | 77.14% |
| 3 | Heyburn | 86.8 | 4.6 | 68.62% |
| 4 | New Plymouth | 86.7 | 5.9 | 95.39% |
| 5 | Shelley | 84.9 | 4.9 | 79.44% |
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1. Wendell
We've identified the 83355 zip code in Wendell as Idaho's best real estate investment market. Here's why.
🔎 Key data about Wendell
| Data point | Value | Rank in state (of 292 markets) |
|---|---|---|
| Zip code | 83355 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $307,089[1] | 6th lowest |
| Five-year appreciation | 93.05%[2] | 7th highest |
| Household income | $60,469[3] | 53rd highest |
| Affordability ratio | 5.1 | 10th most affordable |
| Five-year population growth | 15.2%[4] | 23rd highest |
| Unemployment rate | 1.6%[5] | 10th lowest |
| Property taxes | $1,098[6] | 4th lowest |
| Educational attainment | 9.6%[7] | 73rd highest |
Wendell (zip code 83355) is the best residential real estate investment market in Idaho. It has the 7th highest property value appreciation among markets we evaluated, with a 93.05% appreciation of the typical property over the last five years.
Wendell is the 10th most affordable market among the 292 Idaho markets we evaluated, with an affordability ratio of 5.1.
2. Burley
The 83318 zip code in Burley is Idaho's second-best residential real estate investment market.
🔎 Key data about Burley
| Data point | Value | Rank in state (of 292 markets) |
|---|---|---|
| Zip code | 83318 | N/A |
| InvestScore | 87.7 | 2nd highest |
| Typical property value | $317,107[8] | 8th lowest |
| Five-year appreciation | 77.14%[9] | 34th highest |
| Household income | $63,511[10] | 49th highest |
| Affordability ratio | 5.0 | 7th most affordable |
| Five-year population growth | 13.4%[11] | 30th highest |
| Unemployment rate | 3.3%[12] | 33rd lowest |
| Property taxes | $1,144[13] | 5th lowest |
| Educational attainment | 21.8%[14] | 50th highest |
The 83318 zip code in Burley features a typical property value of $317,107, the 8th lowest in the state.
Property values have appreciated 77.14% over the past five years, the 34th highest increase among evaluated markets in the state. Burley homes have an affordability ratio of 5.0, the 7th most affordable in the state.
3. Heyburn
The 83336 zip code in Heyburn comes in at No. 3 in our ranking of residential real estate investment markets in Idaho.
🔎 Key data about Heyburn
| Data point | Value | Rank in state (of 292 markets) |
|---|---|---|
| Zip code | 83336 | N/A |
| InvestScore | 86.8 | 3rd highest |
| Typical property value | $298,025[15] | 3rd lowest |
| Five-year appreciation | 68.62%[16] | 51st highest |
| Household income | $64,677[17] | 44th highest |
| Affordability ratio | 4.6 | most affordable |
| Five-year population growth | 13.2%[18] | 33rd highest |
| Unemployment rate | 2.5%[19] | 19th lowest |
| Property taxes | $1,194[20] | 7th lowest |
| Educational attainment | 19.4%[21] | 59th highest |
With a typical property value of $298,025, Heyburn's 83336 zip code features the 3rd lowest property values in the state.
Heyburn homes have an affordability ratio of 4.6, the most affordable among the markets we evaluated.
4. New Plymouth
The 83655 zip code in New Plymouth ranks No. 4 among Idaho's residential real estate investment markets.
🔎 Key data about New Plymouth
| Data point | Value | Rank in state (of 292 markets) |
|---|---|---|
| Zip code | 83655 | N/A |
| InvestScore | 86.7 | 4th highest |
| Typical property value | $445,082[22] | 42nd lowest |
| Five-year appreciation | 95.39%[23] | 5th highest |
| Household income | $75,688[24] | 5th highest |
| Affordability ratio | 5.9 | 30th most affordable |
| Five-year population growth | 28.5%[25] | 8th highest |
| Unemployment rate | 3.6%[26] | 38th lowest |
| Property taxes | $1,405[27] | 13th lowest |
| Educational attainment | 26%[28] | 37th highest |
Property values in New Plymouth's 83655 zip code have seen the 5th highest increase among evaluated markets in the state, with an appreciation of 95.39% over the past five years.
New Plymouth's affordability ratio of 5.9 makes it the 30th most affordable among the 292 markets we evaluated.
5. Shelley
The 83274 zip code in Shelley rounds out our top five residential real estate investment markets in Idaho.
🔎 Key data about Shelley
| Data point | Value | Rank in state (of 292 markets) |
|---|---|---|
| Zip code | 83274 | N/A |
| InvestScore | 84.9 | 5th highest |
| Typical property value | $380,237[29] | 27th lowest |
| Five-year appreciation | 79.44%[30] | 27th highest |
| Household income | $77,366[31] | 27th highest |
| Affordability ratio | 4.9 | 4th most affordable |
| Five-year population growth | 15.2%[32] | 22nd highest |
| Unemployment rate | 5.2%[33] | 62nd lowest |
| Property taxes | $1,323[34] | 10th lowest |
| Educational attainment | 22.5%[35] | 45th highest |
Property values in Shelley's 83274 zip code rose 79.44% over the last five years, ranking the city 27th highest among evaluated markets in Idaho.
Shelley homes have an affordability ratio of 4.9, the 4th most affordable among the markets we evaluated.
How we rank residential real estate markets in Idaho
We evaluated 292 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Idaho.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
