Is Pocatello, Idaho a Good Place to Buy Rental Properties?

Are you wondering whether Pocatello, Idaho is a good place to buy rental properties?

Real estate investment has the potential for significant profits if you invest in the right market, and it can generate a lot of cash flow since money will continue to come into your account every month. It may be a great strategy to ensure financial stability before retiring or just to have extra cash in the bank. Rental properties can also be an excellent investment in an asset that grows in value over time.

This article will look at what makes Pocatello a popular place in Idaho for rental property investors. We'll cover property prices, livability, job market, education, and transportation; all factors that you might be considering before you invest in this beautiful mountain town.

About the City

Did you know that Pocatello is considered the U.S. Smile Capital? George Phillips, the Mayor of Pocatello, passed a rulemaking it illegal not to smile in Pocatello in 1948. The "Smile Ordinance" was enacted jokingly in response to an unusually harsh winter that had affected the spirits of municipal personnel and inhabitants alike. Although the ordinance was intended as a joke, the amusing legislation was passed down when the American Bankers Association law was the key topic of a national advertising campaign. The city is still known as the Smile Capital.

The city is surrounded by mountains, most notably the peaks of the Bannock Range, making it a haven for outdoor enthusiasts. It is famous for its bicycle paths, and the region also hosts outdoor summer concerts and year-round cultural shows in both indoor and outdoor venues.

Pocatello is a working-class community with a strong railroad and labor history. As a result, its blue-collar atmosphere blends seamlessly with its neighboring Idaho towns, however uniquely transforming itself into a commercial and transit hub.

Property Prices and the Cost of Living

Researching property prices and the cost of living is an essential consideration when choosing a new location to buy a rental property. For example, the typical property price in Pocatello is $133,700, which is 19.3 percent lower than the state average in Idaho, making it a very inexpensive location for investing.

Pocatello's housing is also 29% cheaper than the national average, while the cost of living is 15% less than the national average. This means that Pocatello offers a more affordable investment option for property investors compared to the national average and the majority of other communities in Idaho.

Livability

Compared to other cities, Pocatello has a livability rating greater than the national average. The livability rating is calculated by considering numerous characteristics and determining if the city has a decent standard of living in contrast to comparable cities in the United States.

The livability score considers factors such as education, crime, cost of living, and general resident happiness, and is calculated using advanced statistical models.

The city has also been considered one of the best places to retire. As a result, many folks relocate to Pocatello, Idaho, in search of the ideal retirement location. In addition, more than half of arrivals are baby boomers, which increases demand for real estate.

Job Market

The employment market in a metro area significantly influences whether individuals choose to remain in a good job or move to more promising pastures where jobs may be more plentiful, or employees may find better positions in their industry.

Did you know that Pocatello has been named #20 on Forbes Magazine's list of the "Best towns for business and professions"? Many enterprises and businesses are now flourishing in Pocatello and the surrounding area. There has never been a better time to be a job seeker in Pocatello and its neighboring regions.

With the creation of new employment opportunities and the accompanying economic expansion, the region continues to flourish year after year. These advancements will probably not stop anytime soon either, considering they have mainly maintained their momentum during the continuing COVID-19 epidemic.

Education

General education in Pocatello is outstanding. According to the National Center for Education Statistics, it ranks well on both the national and statewide levels compared to other metropolitan regions. When generating the rankings, factors such as public school graduation rates, enrollment rates, teacher-to-student ratios, as well as student and parent evaluations are taken into consideration by the computations.

Idaho State University, which blends excellent academics with the vast natural beauty of the West, is also located within the city. The university's main campus is in Pocatello, and provides access to high-quality education in over 250 majors. Great news for rental owners; this means that there will be many students looking for rental properties.

Transportation

With regard to a metropolis of its size, Pocatello has a first-rate infrastructure. With traffic signals that are both efficient and responsive, traveling in and out of town is a breeze. Citizens and visitors are additionally served by a public bus system, two interstates, and a regional airport, among other facilities.

Pocatello Regional Transit (PRT) is a public transportation system that services a wide section of Southeast Idaho. It provides a wide range of routes in four service categories: fixed route, door to door, commuter, and charter. Fixed route routes are the most common. The urban fixed-route system, which includes a Free Fare Zone on the Idaho State University campus, provides the greatest number of passengers. Prices are quite inexpensive, with discounts available for students, elderly and disabled people, as well as for children and youth.

Final Thoughts

Pocatello is undoubtedly an excellent investment location for first-time and seasoned real estate investors. It stands out as a good investment location for a variety of reasons, including the fact that it is a terrific place to live, the economy is doing well, and real estate is reasonably priced.

If you've been thinking about purchasing a rental property, now might be a great time to do so! There is a good chance that you will be able to diversify your financial portfolio and receive a respectable passive profit as a result of your investment decision.

An important point to keep in mind: while real estate investment can help you make great money, like most investment options, it also involves risk. This is why it is critical to have a professional assist you.

Rooftop Real Estate Management is an Idaho-based full-service property management firm with hundreds of high-quality rental properties under our control. We have strong roots in Idaho and are well-versed in the city’s property market. Our full-service professional property management staff is dedicated to being the best in the business and maximizing the earning potential of each client's investment. As an estate management business, we want to be more than just your property manager; we also want to be a key partner in building and managing a profitable investment real estate portfolio for you.

If you want help increasing your investment income, then we welcome you to contact us or give us a call today to chat about your future investment property.