BOISE MSA | Q1 2026
VACANCY TRENDS
Vacancy ended 2025 at 5.1 percent, increasing from 4.1 percent at the end of 2024 but remaining historically low and below 5.1 percent since March 2024. Unanchored vacancy closed the year at 5.9 percent, in line with prior-year levels. Asking lease rates remained resilient, averaging $22.50 per square foot (NNN, annual) with all submarkets above $20 per square foot except West Boise. Class A asking rents averaged $28.75 per square foot, with select spaces reaching as high as $50 per square foot.
OVERALL VACANCY held below 5% FOR MOST OF 2025 before ticking up to 5.1% AT YEAR-END, an INCREASE of 100 BASIS POINTS compared to December 2024.