Treasure Valley Feasibility Studies

Cushman & Wakefield counted 35,313 apartment units in its Boise market at the end of 2025, after 990 units delivered during the year, with 1,388 more under construction; it marks all three counts preliminary ¹. Over the same twelve months the market's vacancy rate fell by 350 basis points, the largest drop among the U.S. markets in the broker's national report ¹. The report's Boise market is the broker's own definition, and the research does not say which counties it takes in, so these are not Ada and Canyon totals. The research holds the change in the vacancy rate but no dated level for it.

Inside the city of Boise the building department's February 2026 report had single-family permits for calendar 2026 to date up 23% on the year, and multifamily units permitted in fiscal 2026 to date down 66% ¹². Both are early-year readings for one city, not the valley. A realtor page's survey vacancy rate for southwest Idaho and a brokerage blog's count of units under construction in Ada and Canyon also appear in the research, but neither carries a date tied to its document, so neither is printed here; the blog's construction count and the broker's do not agree. For a new apartment project in either county, the broker's deliveries and pipeline are therefore the supply side the research offers, and no dated count of units under construction was found county by county.

No asking rent was found for either county. The register's median gross rents, a measure of what renter households pay rather than what new units ask, are in the household table further down, and the rest of the evidence on rental housing, as a class, is on our multifamily page.

Canyon County's Labor Department profile of August 2026 counts 65,317 residents who commuted out of the county for work in 2023 and 38,578 workers who commuted in ⁵. The research does not say where the out-commuters work, and no matching count was found for Ada County.

Neither county has a twelve-month nonfarm payroll change in the research, so the two profiles' other series stand in for it. Ada County's household employment was 289,056 in July 2025 and 288,247 in July 2026, and its average covered employment 287,206 in 2024 and 294,260 in 2025 ¹⁴. Canyon County's household employment was 132,574 and 132,150 in the same two months, and its covered employment 88,422 and 89,966 in the same two years ⁵. The department puts the household change at 0.3% down in each county ¹⁴⁵. For Ada County the Bureau of Labor Statistics' release for the first quarter of 2025 also had covered employment up 1.6% from March 2024 to March 2025 ¹⁵.

The household series (LAUS) counts employed residents of the county; the covered series (QCEW) counts jobs at employers in it, so for a site drawing workers or customers from both counties the two answer different questions.

In its Boise MarketBeats of July 24, 2026, Cushman & Wakefield put industrial vacancy at 9.6% for the second quarter, 80 basis points above the quarter before and 180 above a year before; retail vacancy at 4.4%, its highest in more than two years; and office vacancy at 11.2% ⁶. These are the broker's Boise market readings. The research found no industrial or retail vacancy for Canyon County on its own, so a Nampa or Caldwell warehouse or store is read against the broker's Boise market, whose counties the research does not list; the classes have their own pages, industrial and warehouse and retail.

Lodging is the gap. No hotel occupancy, room rate, revenue per room or pipeline was found for either county, and the GSA's fiscal 2025 lodging allowance for Ada County, $167 to $191, is a federal travel rate rather than a hotel result ¹¹. No count of self-storage, senior housing, RV parks or convenience stores was found for the valley.

The register holds these readings for each county; it has no figure for the valley as one market. The American Community Survey rows are five-year samples ending in 2024 and the BEA rows are for 2024, so all of them predate the broker's 2025 and 2026 readings above.

Ada and Canyon counties are served by SBA's Boise District, which also takes in part of eastern Oregon ²³; Idaho's ten northern counties go to the Seattle District instead, as the Idaho page sets out. Capital Matrix of Boise names itself the state's CDC of the year for 2025 ²⁴. Idaho's loan totals are on the state page's capital section. The Boise District's own lender report could not be retrieved for the research, and whether a parcel in either county counts as rural for USDA, or sits inside an Opportunity Zone or HUBZone, was not established.

A lender's request for a study rests on 13 CFR 120.160(b): SBA may require professional appraisals, a survey, or a feasibility study ²⁵; the program tests that follow are on our SBA 7(a) and 504 lending page.

• Which counties Cushman & Wakefield's Boise market takes in, before its apartment or industrial figures are set beside Ada and Canyon permits.
• Where a Canyon County site's workers live and work: the profile counts out-commuters but not their destination.
• Nampa's impact fee amounts, from the city's current schedule, since the research names the fees but not their size.
• Canyon County's Vintage 2025 population, against the current Census table, since the research's link carries a 2021 code.