Three years ago, that note at my old apartment complex told us we had a month to vacate our apartment so they could renovate it. Sure, they called us valued residents and offered us a similarly sized unit…at double the rent. That’s why my hands shake a little when I’m the one that has to open the lease renewal. Even though our dual-income, no-kids family is doing alright financially, I still dread seeing whatever number is printed on that renewal notice.
I know I’m not alone in feeling that way. Rent in Idaho has increased tremendously over the past decade. Just look at Boise. In 2015, fair market rent for a two-bedroom apartment was $736. In 2025? $1,838. That’s nearly 2.5 times more.
The Math Just Doesn’t Add Up
Scour the internet for the best opinions and you’ll discover that most financial experts say that you should spend no more than 30% of your gross income on rent. Let’s be real. In a world where things like car payments, insurance premiums and grocery bills keep getting larger and paychecks are either staying flat or getting smaller, the 30% rule just doesn’t seem feasible anymore.
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And the numbers prove that. According to the National Low Income Housing Coalition, in order to pay no more than that 30%, Idahoans would need to earn $27.83 an hour to afford a two-bedroom at the statewide fair market value ($1,446 per month.) That’s well over the average renter’s hourly wage of $18.81.
Rent becomes even more of a challenge for those working minimum wage jobs. The NLHIC says that someone working minimum wage ($7.25 an hour) would have to work 126 hours to afford a 1-bedroom apartment. That’s the equivalent of 3.1 full-time jobs…