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Office leasing remained positive across both regions, with Eastern Idaho recording 1,400 square feet of net absorption and Southern Idaho strengthening to 10,300 square feet, compressing vacancy to 3.1% and 1.3% respectively.
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Retail conditions stayed healthy in Eastern Idaho with 3,700 square feet of positive absorption and vacancy holding at 2.3%, while Southern Idaho saw slight softening with absorption turning marginally negative at approximately 3,000 square feet.
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Industrial demand remained negative across both markets, though conditions improved from Q4, with Eastern Idaho at approximately 20,100 square feet of net absorption loss and Southern Idaho moderating to 6,200 square feet.
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Office leasing turned positive across both regions, with Eastern Idaho leading at approximately 23,200 square feet of net absorption and Southern Idaho posting a more modest gain of 3,800 square feet, with vacancy remaining compressed at 3.2% and 1.6% respectively.
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Retail momentum improved meaningfully, with both Eastern and Southern Idaho each posting roughly 44,500 square feet of positive net absorption, and vacancy holding tight at 2.3% in Eastern Idaho and 3.1% in Southern Idaho.
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Industrial demand softened across both markets, with Southern Idaho recording approximately 38,100 square feet of net absorption loss and Eastern Idaho posting a smaller pullback of 28,900 square feet, though vacancy remained constrained at 3.0% and 2.8%.
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​​​Office, retail, and industrial sectors all saw negative absorption in Q3, led by Southern Idaho with declines of 21,700 square feet in office, 77,400 square feet in retail, and 93,200 square feet in industrial.
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Vacancy remains tight across both markets, generally lower in Southern Idaho at 1.8% to 3.5%, while Eastern Idaho posts higher asking rates in office and retail but lower rates in industrial.
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Construction activity remains minimal, with limited new space underway, mostly in Southern Idaho's industrial sector and Eastern Idaho's retail segment.
Q2 2025 Eastern & Southern Idaho Market Report
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The office market across Eastern and Southern Idaho continued to show stability, supported by consistent population growth and steady economic conditions. Labor force and employment growth were reported in both regions, with the market maintaining appeal compared to national averages.
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The retail market remained active with vacancy at 2.4% in Eastern Idaho and 2.7% in Southern Idaho. Net absorption rebounded in both regions compared to the prior quarter, with Eastern Idaho posting 26,722 square feet and Southern Idaho reporting modest gains of 7,993 square feet.
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Industrial performance was dynamic across both regions, with strong absorption in several key counties and moderate construction activity underway. Southern Idaho saw significant occupancy growth, particularly in Jerome County, while Eastern Idaho experienced a rebound in net absorption despite fluctuations in Bonneville County.
Q1 2025 Eastern & Southern Idaho Market Report
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The economy remains stable across Eastern and Southern Idaho, with population growth just over 1% and a growing labor market. Employment increased by 1.5% in the Idaho Falls MSA and 4.5% in the Twin Falls MSA, while the Pocatello MSA saw a notable drop of 9.5%, losing approximately 5,000 employees from December 2024 to January 2025.
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The retail market remains steady with vacancy at 2.5% in Eastern Idaho and 2.7% in Southern Idaho. Net absorption is down in both regions this quarter, with asking rates holding steady across Eastern and Southern Idaho.
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Industrial assets continue to be desirable with vacancy low across both markets. Absorption rates rose in Southern Idaho and dropped in Eastern Idaho, with asking rates steady in Eastern Idaho and increasing in Southern Idaho.
Q4 2024 Eastern & Southern Idaho Market Report
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The economy remains stable across Eastern and Southern Idaho, with population growth just over 1% and a growing labor market. Employment increased by 3.9% in the Idaho Falls MSA, 5.4% in the Pocatello MSA, and 2.4% in Twin Falls from November 2023 to November 2024.
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The retail market remains steady with vacancy just over 2% in Eastern Idaho and just under 2% in Southern Idaho. Net absorption is down in Eastern Idaho and flat in Southern Idaho, with asking rates holding steady across both markets.
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Industrial assets continue to be desirable with vacancy low across both markets. Absorption rates dropped in Southern Idaho and rose in Eastern Idaho, with asking rates increasing slightly in both regions.
Q3 2024 Eastern & Southern Idaho Market Report
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The economy remains stable across Eastern and Southern Idaho, with population growth just over 1% and a growing labor market. Employment increased by 2.8% in the Idaho Falls MSA, 3.8% in the Pocatello MSA, and 3.4% in Twin Falls from August 2023 to August 2024.
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The retail market remains steady with vacancy under 2% in both regions. Net absorption ticked down slightly in Eastern Idaho and held steady in Southern Idaho, with asking rates steady across both markets.
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Industrial assets continue to be desirable with vacancy low across both markets. Absorption rates dropped in Southern Idaho and held steady in Eastern Idaho, with asking rates holding steady in both regions.
Q2 2024 Eastern & Southern Idaho Market Report
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The economy remains stable across Eastern and Southern Idaho, with population growth just over 1% and a growing labor market. Employment increased modestly, with the Idaho Falls, Pocatello, and Twin Falls MSAs each posting gains of under 1% from May 2023 to May 2024.
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The retail market remains steady with vacancy under 2% in both regions. Net absorption ticked down slightly in both Eastern and Southern Idaho, with asking rates falling in Southern Idaho and increasing in Eastern Idaho.
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Industrial assets continue to be desirable with vacancy low across both markets. Absorption rates dropped in Southern Idaho and held steady in Eastern Idaho, with asking rates flat in Eastern Idaho and falling in Southern Idaho.
Q1 2024 Eastern & Southern Idaho Market Report
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The economy remains stable across Eastern and Southern Idaho, with population growth just over 1% and a growing labor market. Employment increased by 1.7% in the Idaho Falls MSA and 1.4% in the Pocatello MSA, while Twin Falls saw a slight decrease of 0.6%.
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The retail market remains steady with vacancy under 2% in both regions. Yearly net absorption is positive across Eastern and Southern Idaho, with asking rates holding steady in Southern Idaho and increasing in Eastern Idaho.
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Industrial assets continue to be desirable with vacancy low across both markets. Absorption rates dropped in both regions this quarter, with asking rates remaining flat in Eastern and Southern Idaho.