Idahos breathtaking landscapes and affordability have turned the Gem State into a powerful magnet for retiring baby boomers.
This trend is evident in Idaho.
This data highlights a key reality: while many boomerswould liketo downsize, most end up staying put.
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In interviews, older homeowners say they oftenwanta smaller home but it just doesnt make financial sense to move.
Idahos quality of life from its recreation opportunities to its safe, slower-paced communities is a strong pull factor.
Financial Considerations
The period 20182023 saw dramatic shifts in economic conditions that influenced boomer behavior.
On one hand, historically low mortgage interest rates through 20202021 made buying or refinancing very attractive.
Those moving from high-cost states also found Idahos home prices relatively affordable during the 20182020 period.
Indeed, metro areas with lower living costs and taxes like Boise have been especially attractive to relocating boomers.
Higher rates and prices meant that by 20222023, even well-off boomers had to weigh the cost of moving.
Some who had locked in ultra-low mortgage rates on their existing homes were reluctant to give them up.
But local Idaho boomers on fixed incomes faced affordability challenges if they hadnt already purchased their retirement home.
This cohort is also slightly more inclined to seek out senior-oriented housing.
This groups housing choices look a bit different.
But by the early 2020s, as they retired, their decisions started to resemble the earlier boomers.
