As of 2020, about 71.5% of all Idaho residents own a home. This is a small increase from the 70.6% homeownership rate in 2019. The median home value of a house in Idaho is $274,200, while the average outstanding mortgage amount in the state is $171,193. This comes to a difference of $103,007.
The average household income in the state is $5,885 per month, which means that Idaho residents spend almost 20% of their income on mortgage expenses. However, the state’s residents pay $4 less than the national average for monthly mortgage payments.
It is important to know that these figures are based on multiple components. Your monthly mortgage payments may change depending on the cost of your home, the location, your lender and more.