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REAL ESTATE


Log on to: Gem State Prospector. Under Cities select Twin Falls, Jerome, Burley, Rupert, Hailey, Filer, or Kimberly. Under Counties select Twin Falls, Jerome, Cassia, Minidoka or Blaine.

COMMERCIAL: *
Manufacturing: The Magic Valley has numerous M1 and M2 zoned locations with parcel sizes ranging from 1 acre to 100 acres. Many of the parcels have rail access. In addition, many of the parcels have excellent access and/or visibility to Interstate 84, the main east/west highway in Southern Idaho.

Prices for M1 and M2 zoned parcels range from $3 to $4 per square foot.

For specific site availability, contact Jan Rogers at the Southern Idaho Economic Development Organization toll free at 866-768-8443.

Office: The area offers a number of both existing buildings as well as new projects from which to choose. Rental rates vary according to age and location. Older buildings which typically include second and third generation space range from $15.00 to $18.00 per square foot annually. Newer projects and those under construction have annual rental rates around $13.50 to $15.00 per square foot, triple net.For those businesses interested in space with state-of-the-art communications, there are a few new projects underway to meet such specific needs.

For more information, call Jan Rogers at the Southern Idaho Economic Development Organization toll free at 866-768-8443.

*Sources: Westerra Real Estate Group and Western Appraisal

RESIDENTIAL: *
While Southern Idaho's growth and attractiveness has spurred the housing market, home prices and rental rates remain at or slightly below the national average. Recent data indicates the average home price in Twin Falls and Jerome to be under $135,000. For a newer executive home, the price would be about $135.00 per square foot which includes the land and high quality exterior and interior amenities.

This cost would be considered the "upper end" of the market.

In general, the price per square foot for newly constructed homes currently on the market ranges from $95.00 to $105.00 and existing homes range from $80.00 to $90 per square foot.

The area provides for many options, including city subdivisions, mature areas, country acreages and very unique settings such as the Snake River Canyon, South Hills and numerous golf course locations.

In the rental market, a three bedroom, two bath home in the city limits would rent from $750.00 to $950.00 per month. Executive rentals can approach $1,500 to $1,800 per month.

* Source: Westerra Real Estate Group

2006 Average Property Tax Rates*
County Avg. Urban % Avg. Rural % Overall Avg. Property Tax %
Twin Falls 1.74% 1.036% 1.445%
Jerome 1.954% 1.214% 1.439%
Minidoka 1.509% 0.0995% 1.194%
Cassia 1.451% 0.915% 1.063%
Blaine 0.466% 0.395% 0.442%

* Idaho State Tax Commission - http://tax.idaho.gov/propertytax/PTpdfs/rpt_06_AvgTaxRates.pdf