Meridian, Idaho Market Report

The HBS View: Meridian combines exceptional household growth with a competitive new-apartment pipeline. Demand is real, but owners must manage effective rent, renewal capture, and product differentiation—not rely on population growth alone.

Executive Summary: Meridian reached an estimated 142,988 residents in July 2025, 21.4% above its 2020 population base. Data USA reports 68,400 employed residents in 2024, up 6.1% year over year. These are powerful demand signals for conventional apartments, particularly for households seeking access to Boise-area employment, schools, retail, and newer suburban housing.

The Boise metro apartment market entered 2026 with improving demand but still-visible availability. MMG reported Q1 2026 average rent of $1,610, occupancy of 93.7%, trailing-four-quarter absorption of 2,118 units, and 1,397 completions. Meridian accounted for an outsized share of recent regional apartment demand, yet active development means leasing execution remains decisive.