The High Point on Overland Apartments brought 190 units to Meridian next to the University of Phoenix. Photo by Pete Grady. A peculiar thing happened as newcomers fled to Boise’s suburbs seeking to escape urban cores filled with apartments: Those suburbs started getting apartments themselves. Last year, just one of every five new multifamily units in the Treasure Valley was built in Boise, according to COMPASS, the regional planning agency. “Over the past five years we have seen more multifamily units permitted than ever before,” said Carl Miller, COMPASS’s principal planner. In 2018, Meridian alone issued permits for 1,303 multifamily units — twice as many as Boise did. But lest you think the suburban apartment market is a balloon that may pop, developers say not to worry. The Treasure Valley has long had fewer apartments than average for areas its size, and no end to its population growth is in sight. Rising rents keep attracting developers. Apartment List, a national listing service, says the median cost of a two-bedroom rental in the Boise area is now $910 per month, and an earner must make $18 an hour to afford it. Another service, Apartmentguide.com, pegs the two-bedroom median at $1,344 per… Read full this story
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