Can I Afford a Home
in Idaho Falls?
Median home price in Idaho Falls is $320,000. At 6.5% with 25% down, you need $78,156/year to qualify under the 28% housing rule.
Idaho Falls, ID — 2024 snapshot
Income gap vs. median earners
At a 5.3x income-to-price ratio, Idaho Falls buyers need $18,156/year more than the local median household income to afford the median home.
Monthly payment breakdown — Idaho Falls
Median home price $320,000, 25% down ($80,000), 6.5% rate, 30-year fixed.
| Component | Monthly | Annual |
|---|---|---|
| Principal & interest | $1,517/mo | $18,204/yr |
| Property tax (0.65% rate) | $173/mo | $2,076/yr |
| Homeowner insurance (est.) | $133/mo | $1,596/yr |
| Total PITI | $1,823/mo | $21,876/yr |
Required income by mortgage rate
Median Idaho Falls home at $320,000, 20% down ($64,000), 30-year fixed.
| Rate | Monthly PITI | Required income |
|---|---|---|
| 6% | $1,841/mo | $78,900/yr |
| 6.5% (current est.) | $1,924/mo | $82,457/yr |
| 7% | $2,009/mo | $86,100/yr |
| 7.5% | $2,096/mo | $89,829/yr |
Uses Idaho Falls's 0.65% property tax rate and 0.5% insurance estimate. No existing debts assumed.
Check your specific salary
Use the income bracket pages to see how your salary compares to the $78,156/year needed in Idaho Falls.
Run your exact numbers for Idaho Falls
Do not include rent — only recurring debt obligations.
Less than 20% of the home price triggers PMI (private mortgage insurance).
Buying and selling within 5 years rarely covers transaction costs.
Frequently asked questions
Can I afford a home in Idaho Falls?
Median home price in Idaho Falls is $320,000. At 6.5% with 25% down ($80,000), the monthly PITI is $1,823. To keep housing costs at or below 28% of gross income, you need $78,156/year. The median household income in Idaho Falls is $60,000, which means the typical household falls $18,156 short.
What income do you need to buy a house in Idaho Falls?
To afford the median Idaho Falls home at $320,000 with 25% down and a 6.5% rate, you need approximately $78,156/year. This applies the 28% front-end DTI limit used by conventional lenders. Increasing your down payment or waiting for lower rates reduces this threshold.
What is the property tax rate in Idaho Falls?
The effective property tax rate in Idaho Falls, Idaho is 0.65% annually. On the median home of $320,000, that is $173/month or $2,076/year in property taxes. Property taxes are included in PITI and count toward the 28% front-end DTI limit.
How much is a down payment on a house in Idaho Falls?
On the Idaho Falls median home price of $320,000, a 20% down payment is $64,000 and a 25% down payment is $80,000. Putting down at least 20% eliminates PMI. For homes above $766,550, you will need a jumbo loan, which typically requires 20-30% down and stricter income documentation.