BOISE MSA | Q2 2026
MULTIFAMILY PERMITS & VALUES
A decline in both unit counts and valuation suggests developers are increasingly pursuing smaller-scale projects as elevated construction costs, higher interest rates, and tighter financing conditions continue to impact project feasibility.
Caldwell emerged as the region’s most active multifamily market, recording the highest number of permitted units and the highest permit value in both Ada and Canyon counties. Multifamily permit value in Caldwell exceeded the next closest market by nearly $11 million, marking a significant shift from April 2025 when no multifamily units were permitted in the city. This growth highlights the continued westward expansion of development activity into Canyon County.
The number of PERMITTED UNITS declined to 345, DOWN from 510 units last year.
PERMIT VALUE DECLINED nearly 50% year over year totaling $43 million.