The Kootenai County real estate market reached unprecedented levels in 2022, with the median single-family home price surpassing $500,000. The surge was driven by continued in-migration, limited inventory, and rising construction costs.
According to the Coeur d’Alene Regional Realtors, the percentage of local households able to afford a home purchase had fallen dramatically — from 75 percent in 2016 to a fraction of that figure. The affordability gap between what a median-income household could afford and the actual median home price grew to more than $100,000.
Builders reported that land costs alone had become a major barrier. Construction managers noted that landowners were asking upward of $100,000 per acre for parcels that were previously far more affordable. The crisis prompted expanded efforts by the Housing Solutions Partnership to develop attainable housing options for local workers.